Summerfield, Noble County, Ohio Property Taxes
The median property tax rate in Summerfield, OH is 1.79%, slightly lower than the Ohio state median of 1.80% but significantly higher than the national median of 0.99%. With the median home value in Summerfield at $50,120, the typical annual property tax bill amounts to $869, which is well below the national median of $2,690. Property taxes in Summerfield are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Summerfield'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 Summerfield or another part of Noble County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Summerfield, Noble County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.79%
Estimate Property Tax Bill
$897
$833
Ownwell’s Summerfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Summerfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Summerfield 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 Summerfield, Noble County, Ohio
Property taxes in Summerfield, Ohio, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Summerfield is 1.79%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Summerfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Summerfield 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 Summerfield's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43788 has both the highest and lowest median property tax rate of 1.79%. Understanding how these areas compare with Summerfield provides valuable insights into the varying tax landscape across Noble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Summerfield Tax Rate
1.79%
Average Noble County Tax Rate
1.86%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Summerfield, Noble County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43788 | 1.63% | 1.65% | 1.79% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Summerfield, Noble County, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Summerfield, Ohio. 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 Noble County 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 Summerfield, 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 Summerfield stands at $50,120, with tax bills ranging from $529 at the 25th percentile to $2,037 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Summerfield, Noble County, Ohio
Source: Ownwell
$33,185
$76,623
$120,060
Average Summerfield Assessed Value
$50,120
Average Noble County Assessed Value
$69,955
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Summerfield, Noble County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43788 | $17,060 | $30,230 | $50,120 | $84,740 | $123,970 |
Source: Ownwell
Property Tax Bills Across Summerfield, Noble County, Ohio
In Summerfield, Noble County, OH, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the home. The tax rate, or millage rate, is then applied to this assessed value to determine the annual property tax bill. For context, the national median property tax rate is 0.99%, while homeowners in Summerfield face varying tax bills depending on their property values. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For example, the median home price in Summerfield is $50,120, leading to a wide range of tax bills. At the 25th percentile, homeowners pay around $529, while those in the 75th percentile see bills of about $1,411. The 90th percentile tax bill can reach up to $2,037. These taxes significantly impact homeowners, affecting their annual budgets and overall financial planning.
Average Summerfield Tax Bill
$869
Average Noble County Tax Bill
$1,279
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Summerfield, Noble County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43788 | $305 | $529 | $869 | $1,411 | $2,037 |
Source: Ownwell