Garrettsville, Ohio Property Taxes
The median property tax rate in Garrettsville, OH is 1.36%, which is significantly higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Garrettsville at $154,600, the typical annual property tax bill reaches $2,100, slightly below the national median of $2,690. Property taxes in Garrettsville are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Garrettsville'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 Garrettsville 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
Garrettsville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$2,103
$1,951
Ownwell’s Garrettsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garrettsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garrettsville 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 Garrettsville, Ohio
Property taxes in Garrettsville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garrettsville is 1.36%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Garrettsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garrettsville 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 Garrettsville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44231 zip code has the highest median property tax rate of 1.36%, while the same zip code has the lowest median tax rate of 1.36%. Understanding how these cities compare with Garrettsville provides valuable insights into the varying tax landscape across Portage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garrettsville Tax Rate
1.36%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garrettsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44231 | 1.16% | 1.32% | 1.36% | 1.44% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Garrettsville, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Garrettsville, 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 Portage 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 Garrettsville, 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. For example, the median home price in Garrettsville is $154,600, with tax bills ranging from $1,556 at the 25th percentile to $3,482 at the 90th percentile. The zip code 44231 has the highest and lowest median tax bill, both at $2,100. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Garrettsville Assessed Value
$154,600
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 Garrettsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44231 | $72,600 | $118,400 | $154,600 | $202,400 | $247,600 |
Source: Ownwell
Property Tax Bills Across Garrettsville, Ohio
In Garrettsville, located in Portage County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the tax bill include property size, location, and any improvements made to the home. For example, with a median home price of $154,600, homeowners in Garrettsville might see their property tax bills vary. The 25th percentile tax bill is around $1,556, while the 75th percentile tax bill reaches $2,750, and the 90th percentile tax bill can go up to $3,482. These figures highlight the range of property taxes that residents might expect, depending on their property's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, Garrettsville's property tax rates can significantly impact homeowners' annual expenses, making it essential for them to understand how their tax bills are determined and managed.
Average Garrettsville Tax Bill
$2,100
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Garrettsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44231 | $978 | $1,556 | $2,100 | $2,750 | $3,482 |
Source: Ownwell