Mc Comb, Ohio Property Taxes
The median property tax rate in McComb, OH is 1.38%, 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 McComb at $96,915, the typical annual property tax bill amounts to $1,342, still below the national median of $2,690. Property taxes in McComb are calculated based on the assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding McComb'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 McComb 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
Mc Comb, 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 MC COMB Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC COMB with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC COMB 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 Mc Comb, Ohio
Property taxes in MC COMB, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MC COMB is 1.38%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within MC COMB set these rates annually, and they can vary significantly across different neighborhoods. Each year, MC COMB 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 MC COMB's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45858 zip code has the highest median property tax rate of 1.38%, while the 45858 zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with MC COMB 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 Mc Comb Tax Rate
1.38%
Average Putnam County Tax Rate
1.30%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Comb, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45858 | 1.29% | 1.38% | 1.38% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Mc Comb, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mc Comb, Ohio. 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 Mc Comb, 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. The median home price in Mc Comb is $96,915, with property tax bills ranging from $988 at the 25th percentile to $2,602 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mc Comb Assessed Value
$96,915
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 Mc Comb, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45858 | $64,660 | $71,062 | $96,915 | $173,528 | $200,710 |
Source: Ownwell
Property Tax Bills Across Mc Comb, Ohio
In McComb, located in Putnam County, OH, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. Homeowners in this area experience tax bills that vary significantly, with the 25th percentile tax bill at $988 and the 75th percentile tax bill reaching $2,135. The highest median tax bill in the region is $1,342, found in the zip code 45858. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions. For instance, a home with a median price of $96,915 would have its tax bill determined by applying the local tax rate to its assessed value. This system ensures that property taxes are proportionate to the value of the property, thereby affecting homeowners differently based on their property’s worth. Comparatively, the national median property tax rate stands at 0.99%, which provides a benchmark for understanding local tax burdens. This method of calculation ensures that homeowners contribute fairly to local services and infrastructure, reflecting the value of their property.
Average Mc Comb Tax Bill
$1,342
Average Putnam County Tax Bill
$1,712
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Comb, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45858 | $894 | $988 | $1,342 | $2,135 | $2,602 |
Source: Ownwell