Cumberland, Ohio Property Taxes
The median property tax rate in Cumberland, Ohio is 1.15%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Cumberland at $93,550, the typical annual property tax bill amounts to $1,214, which is below the national median of $2,690. Property taxes in Cumberland are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Cumberland'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 Cumberland or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cumberland, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,076
Ownwell’s Cumberland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cumberland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cumberland 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 Cumberland, Ohio
Property taxes in Cumberland, Ohio, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Cumberland is 1.15%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Cumberland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cumberland 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 Cumberland's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43732 zip code has the highest median property tax rate of 1.15%, while the same zip code also represents the lowest median tax rate of 1.15%. Understanding how these areas compare with Cumberland provides valuable insights into the varying tax landscape across Muskingum County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cumberland Tax Rate
1.15%
Average Muskingum County Tax Rate
1.33%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cumberland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43732 | 0.89% | 1.13% | 1.15% | 1.17% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Cumberland, Ohio
In Cumberland, 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 local appraisal district 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 Cumberland, 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 Cumberland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 43732, with a median tax bill of $1,214, reflecting the varied property values and tax assessments within the area.
Average Cumberland Assessed Value
$93,550
Average Muskingum County Assessed Value
$90,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cumberland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43732 | $13,810 | $42,425 | $93,550 | $140,425 | $226,940 |
Source: Ownwell
Property Tax Bills Across Cumberland, Ohio
In Cumberland, located in Muskingum County, Ohio, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in this area is $93,550. Property taxes are calculated by multiplying the assessed value of the property by the local tax rate. For example, the tax bill at the 25th percentile is $553, while at the 75th percentile, it rises to $1,589. Homeowners in the 90th percentile can expect to pay around $2,090. These figures show a significant range in tax bills, reflecting differences in property values and the specific tax rates applied. The highest and lowest median tax bills in the area both stand at $1,214, which indicates consistency in the tax rate within the region. Compared to the national median property tax rate of 0.99%, Cumberland's tax rates can vary widely, impacting homeowners differently based on their property's assessed value. This variance in property tax bills can significantly affect homeowners' annual financial planning and overall housing affordability.
Average Cumberland Tax Bill
$1,214
Average Muskingum County Tax Bill
$1,192
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cumberland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43732 | $173 | $553 | $1,214 | $1,589 | $2,090 |
Source: Ownwell