Mantua, Ohio Property Taxes
The median property tax rate in Mantua, OH is 1.54%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Mantua, the typical annual property tax bill reaches $2,689, closely aligning with the national median of $2,690. Property taxes in Mantua 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 Mantua'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 Mantua 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
Mantua, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Mantua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mantua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mantua 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 Mantua, Ohio
Property taxes in Mantua, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mantua is 1.54%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mantua set these rates annually, and they can vary across different neighborhoods. Each year, Mantua 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 Mantua's effective property tax rate to other areas in Ohio and the national median. For comparison, the 44255 zip code has the highest median property tax rate of 1.54%, while the 44255 zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Mantua 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 Mantua Tax Rate
1.54%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mantua, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44255 | 1.32% | 1.49% | 1.54% | 1.57% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Mantua, Ohio
In Mantua, 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 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 Mantua, 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. Among the zip codes, 44255 has the highest median tax bill at $2,689. 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 Mantua helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mantua Assessed Value
$178,500
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 Mantua, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44255 | $92,600 | $130,900 | $178,500 | $235,600 | $308,280 |
Source: Ownwell
Property Tax Bills Across Mantua, Ohio
In Mantua, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. Various factors influence this assessed value, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For example, in Mantua, the median home price is $178,500. Homeowners in the 25th percentile can expect to pay around $1,966 in property taxes, while those in the 75th percentile might see bills closer to $3,556. For higher-end properties in the 90th percentile, tax bills can reach up to $4,713. These figures illustrate the range of property tax burdens homeowners may face, depending on their property's assessed value. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Mantua to understand how local rates and assessed values impact their annual tax obligations.
Average Mantua Tax Bill
$2,689
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mantua, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44255 | $1,417 | $1,966 | $2,689 | $3,556 | $4,713 |
Source: Ownwell