Newton Falls, Ohio Property Taxes
The median property tax rate in Newton Falls, OH is 1.46%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Newton Falls at $116,050, the typical annual property tax bill reaches $1,602, falling below the national median of $2,690. Property taxes in Newton Falls are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Newton Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Newton Falls 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
Newton Falls, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$1,694
Ownwell’s Newton Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newton Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton Falls 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 Newton Falls, Ohio
Property taxes in Newton Falls, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton Falls is 1.46%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Newton Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newton Falls 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 Newton Falls' effective property tax rate to other counties in Ohio and the national median. For comparison, the 44444 zip code has the highest median property tax rate of 1.46%, while the 44444 zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Newton Falls 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 Newton Falls Tax Rate
1.46%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newton Falls, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44444 | 1.14% | 1.42% | 1.46% | 1.49% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Newton Falls, Ohio
In Newton Falls, 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 Newton Falls, 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 Newton Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 44444 has the highest and lowest median tax bill at $1,602.
Average Newton Falls Assessed Value
$116,050
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 Newton Falls, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44444 | $26,090 | $74,300 | $116,050 | $164,950 | $220,990 |
Source: Ownwell
Property Tax Bills Across Newton Falls, Ohio
In Newton Falls, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's market value, any applicable exemptions, and the local tax rate all play a role in determining the final amount. For homeowners in Newton Falls, the median home price is $116,050. Tax bills can vary significantly, with the 25th percentile paying around $1,009 and the 75th percentile paying up to $2,301. At the 90th percentile, tax bills can reach as high as $3,110. The highest median tax bill in the area is $1,602, which is relatively modest compared to the national median property tax rate of 0.99%. These variations can affect homeowners differently, impacting their annual budgeting and long-term financial planning. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Newton Falls Tax Bill
$1,602
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Newton Falls, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44444 | $389 | $1,009 | $1,602 | $2,301 | $3,110 |
Source: Ownwell