Youngstown, Ohio Property Taxes
The median property tax rate in Youngstown, OH is 2.77%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Youngstown at $45,135, the typical annual property tax bill amounts to $1,240, which is lower than the national median of $2,690. Property taxes in Youngstown are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Youngstown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Youngstown or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Youngstown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.77%
Estimate Property Tax Bill
$1,250
$1,160
Ownwell’s Youngstown Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Youngstown with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Youngstown to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and considers any applicable exemptions.
Property Tax Rates Across Youngstown, Ohio
Property taxes in Youngstown, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Youngstown is 1.43%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Youngstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Youngstown 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 Youngstown's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44514 zip code has the highest median property tax rate of 1.43%, while the 44514 zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Youngstown provides valuable insights into the varying tax landscape across Mahoning County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Youngstown Tax Rate
2.77%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Youngstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44514 | 2.75% | 2.76% | 2.77% | 2.79% | 2.79% |
Source: Ownwell
Property Tax Assessment Values Across Youngstown, Ohio
In Youngstown, 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 Mahoning 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 Youngstown, 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. Being aware of these valuation processes in Youngstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,240 in the 44514 zip code, while the lowest is also $1,240 in the same zip code.
Average Youngstown Assessed Value
$45,135
Average Montgomery County Assessed Value
$98,910
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Youngstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44514 | $14,675 | $26,098 | $45,135 | $64,172 | $75,595 |
Source: Ownwell
Property Tax Bills Across Youngstown, Ohio
In Youngstown, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. For instance, with a median home price of $45,135, the tax bill can vary significantly. Factors such as home improvements, neighborhood changes, and market conditions can influence the assessed value. The tax rate is applied to this assessed value to determine the annual tax bill. In Youngstown, property tax bills range widely; the 25th percentile tax bill is $719, while the 75th percentile reaches $1,761. The highest median tax bill in the area is $1,240, found in zip code 44514. For homeowners, these tax bills can impact their overall housing costs significantly. Compared to the national median property tax rate of 0.99%, Youngstown's tax rates can be relatively high, affecting affordability and long-term financial planning for residents.
Average Youngstown Tax Bill
$1,240
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Youngstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44514 | $406 | $719 | $1,240 | $1,761 | $2,074 |
Source: Ownwell