New Matamoras, Ohio Property Taxes
The median property tax rate in New Matamoras, OH is 0.99%, aligning exactly with the national median of 0.99% but significantly lower than the Ohio state median of 1.80%. With a median home value of $59,260 in New Matamoras, the typical annual property tax bill amounts to $541, which is well below the national median of $2,690. Property taxes in New Matamoras are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding New Matamoras's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of New Matamoras or another part of Monroe County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Matamoras, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$587
Ownwell’s New Matamoras Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Matamoras with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Matamoras to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across New Matamoras, Ohio
Property taxes in New Matamoras, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Matamoras is 0.99%, aligning with the U.S. national median of 0.99%. Local government entities within New Matamoras set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Matamoras estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares New Matamoras's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45767 has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with New Matamoras provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Matamoras Tax Rate
0.99%
Average Monroe County Tax Rate
1.01%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Matamoras, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45767 | 0.59% | 0.97% | 0.99% | 1.01% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across New Matamoras, Ohio
In New Matamoras, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Monroe County Auditor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In New Matamoras, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in New Matamoras is $59,260, with the 25th percentile tax bill at $142 and the 75th percentile tax bill at $1,006. The highest and lowest median tax bills are $541 in the 45767 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Matamoras Assessed Value
$59,260
Average Monroe County Assessed Value
$70,885
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Matamoras, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45767 | $2,200 | $16,830 | $59,260 | $118,170 | $201,404 |
Source: Ownwell
Property Tax Bills Across New Matamoras, Ohio
In New Matamoras, property tax bills are determined based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $59,260, the tax rate applied will significantly influence the final tax bill. Homeowners in New Matamoras can expect a range in their tax bills, from the 25th percentile at $142 to the 90th percentile reaching up to $1,799. These variations are influenced by factors such as property location within the city, any applicable exemptions, and the specific valuation of the property. The median tax bill in the area stands at $541, which is considerably lower than the national median property tax rate of 0.99%. This relatively lower tax burden can be advantageous for homeowners, making New Matamoras an attractive place for property investment. However, understanding the local tax structure and keeping abreast of any changes is crucial for homeowners to manage their financial planning effectively.
Average New Matamoras Tax Bill
$541
Average Monroe County Tax Bill
$677
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Matamoras, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45767 | $22 | $142 | $541 | $1,006 | $1,799 |
Source: Ownwell