West Portsmouth, Ohio Property Taxes
The median property tax rate in West Portsmouth, OH is 1.78%, slightly below the Ohio state median of 1.80% but still higher than the national median of 0.99%. With a median home value of $56,755, the typical annual property tax bill in West Portsmouth amounts to $953, which is significantly lower than the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Navigating West Portsmouth'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 West Portsmouth or another part of Scioto County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
West Portsmouth, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$1,010
Ownwell’s West Portsmouth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Portsmouth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Portsmouth 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 West Portsmouth, Ohio
Property taxes in West Portsmouth, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Portsmouth is 1.78%, significantly higher than the U.S. national median of 0.99%. Local government entities within West Portsmouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Portsmouth 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 West Portsmouth's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45663 zip code has the highest median property tax rate of 1.78%, which is the same as the lowest median tax rate in the same zip code. Understanding how these cities compare with West Portsmouth 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 West Portsmouth Tax Rate
1.78%
Average Scioto County Tax Rate
1.59%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Portsmouth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45663 | 1.04% | 1.58% | 1.78% | 1.82% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across West Portsmouth, Ohio
In West Portsmouth, 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 West Portsmouth, 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 West Portsmouth is $56,755, with tax bills ranging from $491 at the 25th percentile to $2,409 at the 90th percentile. 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 West Portsmouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average West Portsmouth Assessed Value
$56,755
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 West Portsmouth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45663 | $11,965 | $33,452 | $56,755 | $91,002 | $144,242 |
Source: Ownwell
Property Tax Bills Across West Portsmouth, Ohio
Property tax bills in West Portsmouth, located in Scioto County, Ohio, are determined based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. For homeowners in West Portsmouth, the median home price is $56,755. The property tax rate in this region influences the final tax bill, with the national median property tax rate standing at 0.99%. Homeowners in West Portsmouth can expect tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $491, while at the 75th percentile, it rises to $1578, and at the 90th percentile, it can reach up to $2409. These tax bills directly impact homeowners by affecting their annual financial obligations. Higher property taxes can increase the cost of homeownership, while lower taxes can make it more affordable. Understanding these factors helps homeowners plan and budget more effectively.
Average West Portsmouth Tax Bill
$953
Average Scioto County Tax Bill
$1,073
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across West Portsmouth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45663 | $183 | $491 | $953 | $1,578 | $2,409 |
Source: Ownwell