Burton, Ohio Property Taxes
The median property tax rate in Burton, Ohio is 1.47%, considerably higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Burton at $220,400, the typical annual property tax bill reaches $3,230, exceeding the national median of $2,690. Property taxes in Burton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burton'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 Burton 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
Burton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$3,240
$3,007
Ownwell’s Burton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Burton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burton 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 Burton, Ohio
Property taxes in Burton, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burton is 1.47%, which is notably higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Burton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burton 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 Burton's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44021 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Burton provides valuable insights into the varying tax landscape across Geauga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burton Tax Rate
1.47%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44021 | 1.47% | 1.47% | 1.47% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Burton, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Burton, 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 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. Assessment notices in Burton 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 Burton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Burton are both $3,230, associated with the zip code 44021.
Average Burton Assessed Value
$220,400
Average Portage County Assessed Value
$162,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44021 | $220,400 | $220,400 | $220,400 | $220,400 | $220,400 |
Source: Ownwell
Property Tax Bills Across Burton, Ohio
Property tax bills in Burton, located in Portage County, OH, are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. In Burton, the median home price stands at $220,400. The local tax rate is applied to the assessed value to calculate the annual tax bill. For homeowners in Burton, the median property tax bill is $3,230, which is significantly higher than the national median property tax rate of 0.99%. This can place a considerable financial burden on homeowners, especially those with higher-valued properties. Factors such as property location, improvements, and market conditions can influence the assessed value and, consequently, the tax bill. Understanding these elements is crucial for homeowners to anticipate their annual property tax expenses and budget accordingly.
Average Burton Tax Bill
$3,230
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Burton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44021 | $3,230 | $3,230 | $3,230 | $3,230 | $3,230 |
Source: Ownwell