Belmore, Ohio Property Taxes
The median property tax rate in Belmore, OH is 1.55%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Belmore, the typical annual property tax bill amounts to $203, considerably below the national median of $2,690. Property taxes in Belmore are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Belmore'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 Belmore or another part of Putnam County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Belmore, 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 BELMORE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BELMORE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BELMORE 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 Belmore, Ohio
Property taxes in Belmore, Ohio, play a critical role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belmore is 1.55%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Belmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belmore 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 Belmore's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45815 zip code has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Belmore provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belmore Tax Rate
1.55%
Average Putnam County Tax Rate
1.30%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belmore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45815 | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Belmore, Ohio
In Belmore, 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 Putnam 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 Belmore, 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 Belmore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Belmore are both $203, specifically in the 45815 zip code.
Average Belmore Assessed Value
$13,060
Average Putnam County Assessed Value
$132,830
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belmore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45815 | $13,060 | $13,060 | $13,060 | $13,060 | $13,060 |
Source: Ownwell
Property Tax Bills Across Belmore, Ohio
In Belmore, Putnam County, OH, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local assessors who evaluate the market value of the property and then apply an assessment ratio. For Belmore, the median home price is $13,060. Property tax rates are applied to this assessed value to determine the annual tax bill. In this region, the median property tax bill is $203, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's location, its assessed value, and local tax rates. Homeowners in Belmore benefit from relatively low property tax bills, which can make homeownership more affordable compared to other regions. The consistency in tax bills—ranging from the 25th to the 90th percentile all at $203—suggests a stable and predictable tax environment. This stability can be advantageous for budgeting and financial planning for residents.
Average Belmore Tax Bill
$203
Average Putnam County Tax Bill
$1,712
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Belmore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45815 | $203 | $203 | $203 | $203 | $203 |
Source: Ownwell