Streetsboro, Ohio Property Taxes
The median property tax rate in Streetsboro, OH is 1.77%, which is considerably higher than both the national median of 0.99% and slightly below the Ohio state median of 1.80%. With a median home value of $170,000 in Streetsboro, the typical annual property tax bill reaches $3,079, surpassing the national median of $2,690. Property taxes in Streetsboro 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 Streetsboro'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 Streetsboro 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
Streetsboro, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$3,009
$2,792
Ownwell’s Streetsboro Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Streetsboro to estimate your annual property tax bill. This tool provides a clear understanding of your potential tax liabilities, helping you make informed decisions. Additionally, for those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down the page. Your property's assessed value, determined by Portage County, serves as the basis for these calculations and includes any applicable exemptions.
Property Tax Rates Across Streetsboro, Ohio
Property taxes in Streetsboro, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Streetsboro is 1.77%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Streetsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Streetsboro 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 Streetsboro's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44241 zip code has the highest median property tax rate of 1.77%, while the same zip code also has the lowest median tax rate of 1.77%. Understanding how these cities compare with Streetsboro 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 Streetsboro Tax Rate
1.77%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Streetsboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44241 | 1.53% | 1.77% | 1.77% | 1.81% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Streetsboro, Ohio
In Streetsboro, 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 Streetsboro, 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 Streetsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Streetsboro's 44241 zip code is $3,079, reflecting the local real estate market and tax rates.
Average Streetsboro Assessed Value
$170,000
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 Streetsboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44241 | $115,000 | $134,400 | $170,000 | $250,950 | $301,400 |
Source: Ownwell
Property Tax Bills Across Streetsboro, Ohio
In Streetsboro, Portage County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. For instance, if the median home price is $170,000, the assessed value will be a fraction of that amount. The tax rate is then applied to the assessed value to determine the tax bill. Streetsboro's property tax rate is influenced by local government budgets, school funding needs, and public services. Homeowners in Streetsboro can expect a wide range of tax bills. The 25th percentile tax bill is around $2,350, while the 75th percentile reaches $4,453. The top 10% of tax bills can go up to $5,366. The highest median tax bill in the area is $3,079, which is significantly higher than the national median property tax rate of 0.99%. These taxes directly impact homeowners by contributing to essential community services, but they also represent a significant annual expense.
Average Streetsboro Tax Bill
$3,079
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Streetsboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44241 | $1,928 | $2,350 | $3,079 | $4,453 | $5,366 |
Source: Ownwell