Copley, Ohio Property Taxes
The median property tax rate in Copley, OH is 1.78%, slightly below the Ohio state median of 1.80% but significantly higher than the national median of 0.99%. With a median home value of $287,880, the typical annual property tax bill in Copley reaches $4,898, far exceeding the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Copley's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Copley or another part of Summit County, mastering the local property tax landscape will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Copley, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$5,124
$4,755
Ownwell’s Copley Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Copley with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Copley to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more granular insights, you can explore neighborhood-level trends further down the page. Your property’s assessed value is determined by the county and reflects any applicable exemptions, ensuring a precise calculation for your tax obligations.
Property Tax Rates Across Copley, Ohio
Property taxes in Copley, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Copley stands at 1.78%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Copley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Copley 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 Copley's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44321 has the highest median property tax rate of 1.78%, while also having the lowest median tax rate of 1.78%. Understanding how these cities compare with Copley provides valuable insights into the varying tax landscape across Summit County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Copley Tax Rate
1.78%
Average Summit County Tax Rate
1.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Copley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44321 | 1.50% | 1.66% | 1.78% | 1.87% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Copley, Ohio
In Copley, 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 Summit County Fiscal Office 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 Copley, 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. For instance, the highest median tax bill in Copley is $4,898 in the 44321 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Copley Assessed Value
$287,880
Average Summit County Assessed Value
$168,880
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Copley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44321 | $149,514 | $196,600 | $287,880 | $390,920 | $457,482 |
Source: Ownwell
Property Tax Bills Across Copley, Ohio
In Copley, Summit County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the home's market value. For example, with a median home price of $287,880, the assessed value is calculated to determine the tax bill. Various factors such as property location, size, and improvements are considered in this assessment. Tax rates, set by local taxing authorities, are then applied to this assessed value. In Copley, the property tax bills vary significantly, with the 25th percentile tax bill at $3,314 and the 75th percentile reaching $7,209. The highest median tax bill in the area is $4,898, found in the 44321 zip code. These property taxes fund essential local services like schools, public safety, and infrastructure, directly impacting homeowners. Compared to the national median property tax rate of 0.99%, homeowners in Copley experience a range of tax bills that reflect the diverse property values and local tax rates in the area.
Average Copley Tax Bill
$4,898
Average Summit County Tax Bill
$2,683
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Copley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44321 | $2,436 | $3,314 | $4,898 | $7,209 | $8,669 |
Source: Ownwell