New Boston, Ohio Property Taxes
The median property tax rate in New Boston, OH is 1.55%, which is notably higher than the national median of 0.99%, yet lower than Ohio's state median of 1.80%. With a median home value of $43,610 in New Boston, the typical annual property tax bill amounts to $571, significantly below the national median of $2,690. Property taxes in New Boston are determined based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of New Boston's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of New Boston or another part of the city, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Boston, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$676
$627
Ownwell’s New Boston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Boston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Boston 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 New Boston, Ohio
Property taxes in New Boston, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Boston is 1.55%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Boston set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Boston 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 New Boston's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45662 zip code has the highest median property tax rate of 1.55%, while the 45662 zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with New Boston provides valuable insights into the varying tax landscape across Scioto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Boston Tax Rate
1.55%
Average Scioto County Tax Rate
1.59%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Boston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45662 | 0.70% | 1.51% | 1.55% | 1.57% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across New Boston, Ohio
In New Boston, 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 Scioto 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 New Boston, 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 New Boston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both found in the 45662 zip code, amounting to $571.
Average New Boston Assessed Value
$43,610
Average Scioto County Assessed Value
$71,410
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Boston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45662 | $16,022 | $31,700 | $43,610 | $53,740 | $68,426 |
Source: Ownwell
Property Tax Bills Across New Boston, Ohio
In New Boston, Scioto County, OH, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and reflects a percentage of the market value of the property. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the home's location, size, and any applicable exemptions. For homeowners in New Boston, the median home price is $43,610. Property tax bills can vary significantly, with the 25th percentile at $344 and the 75th percentile at $774. At the 90th percentile, tax bills can reach up to $1,008. These figures illustrate how property tax obligations can differ widely, impacting homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, New Boston homeowners might find their tax bills relatively manageable, yet it's essential to consider the local economic context and property values.
Average New Boston Tax Bill
$571
Average Scioto County Tax Bill
$1,073
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Boston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45662 | $189 | $344 | $571 | $774 | $1,008 |
Source: Ownwell