Southington, Ohio Property Taxes
The median property tax rate in Southington, Ohio is 1.44%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $152,500 in Southington, the typical annual property tax bill reaches $2,228, which is below the national median of $2,690. Property taxes in Southington 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 Southington'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 Southington 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
Southington, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$2,196
$2,038
Ownwell’s Southington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Southington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Southington 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 Southington, Ohio
Property taxes in Southington, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Southington is 1.44%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Southington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southington 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 Southington's effective property tax rate to other areas in Ohio and the national median. For comparison, the highest and lowest median property tax rates in the region are both 1.44%, located in the zip code 44470. Understanding how these areas compare with Southington 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 Southington Tax Rate
1.44%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Southington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44470 | 1.37% | 1.42% | 1.44% | 1.44% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Southington, Ohio
In Southington, 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 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. In Southington, 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. For instance, the median home price in Southington is $152,500. The tax bills in the area range significantly, with the 25th percentile tax bill at $2,009 and the 75th percentile at $3,353. The highest median tax bill in the area is $2,228, found in the 44470 zip code. 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 Southington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Southington Assessed Value
$152,500
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 Southington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44470 | $122,420 | $139,900 | $152,500 | $243,000 | $283,500 |
Source: Ownwell
Property Tax Bills Across Southington, Ohio
In Southington, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is influenced by factors such as location, property size, and home improvements. Homeowners in Southington can expect their tax bills to vary significantly, with the 25th percentile paying around $2,009 and those in the 75th percentile facing bills up to $3,353. For the top 10% of property owners, the tax bill can reach approximately $4,203. Comparatively, the national median property tax rate is 0.99%, which may help homeowners gauge how Southington's rates stack up. For instance, in Portage County, where Southington is located, the highest median tax bill is recorded at $2,228 in the 44470 zip code. Understanding these figures can help homeowners budget more effectively and anticipate their annual property tax obligations.
Average Southington Tax Bill
$2,228
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Southington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44470 | $1,739 | $2,009 | $2,228 | $3,353 | $4,203 |
Source: Ownwell