Coventry Township, Ohio Property Taxes
The median property tax rate in Coventry Township, OH is 1.71%, which is considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With a median home value of $160,860 in Coventry Township, the typical annual property tax bill reaches $2,756, surpassing the national median of $2,690. Property taxes in Coventry Township are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Coventry Township'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 Coventry Township 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
Coventry Township, 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 Coventry Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coventry Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coventry Township 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 Coventry Township, Ohio
Property taxes in Coventry Township, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coventry Township is 1.71%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Coventry Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coventry Township 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 Coventry Township's effective property tax rate to other regions in Ohio and the national median. For comparison, the 44319 zip code has the highest median property tax rate of 1.72%, while the 44203 zip code has the lowest median tax rate of 1.66%. Understanding how these areas compare with Coventry Township 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 Coventry Township Tax Rate
1.71%
Average Summit County Tax Rate
1.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coventry Township, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44203 | 1.32% | 1.63% | 1.66% | 1.71% | 1.79% |
| 44306 | 1.20% | 1.43% | 1.71% | 1.78% | 1.89% |
| 44319 | 1.37% | 1.58% | 1.72% | 1.85% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Coventry Township, Ohio
In Coventry Township, 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. 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 Coventry Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Within Summit County, the highest median tax bill is $2,925 in zip code 44203, while the lowest median tax bill is $1,992 in zip code 44306.
Average Coventry Township Assessed Value
$160,860
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 Coventry Township, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44203 | $128,854 | $149,890 | $179,820 | $209,008 | $258,871 |
| 44306 | $97,081 | $111,385 | $125,465 | $149,375 | $169,297 |
| 44319 | $91,980 | $121,445 | $158,690 | $215,020 | $346,448 |
Source: Ownwell
Property Tax Bills Across Coventry Township, Ohio
In Coventry Township, Summit County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $160,860, the tax bill can vary significantly depending on the specific assessment and applicable rates. Several factors influence the final tax bill, including the property's location within specific zip codes. For example, the highest median tax bill in the area is $2,925 in zip code 44203, while the lowest median tax bill is $1,992 in zip code 44306. Homeowners in Coventry Township can expect their tax bills to range from $2,060 at the 25th percentile to $5,594 at the 90th percentile, reflecting the variability in property values and assessment practices. These property taxes are crucial for funding local services such as schools, infrastructure, and public safety, directly impacting the quality of life for residents.
Average Coventry Township Tax Bill
$2,756
Average Summit County Tax Bill
$2,683
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Coventry Township, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44203 | $1,953 | $2,393 | $2,925 | $3,452 | $4,311 |
| 44306 | $1,366 | $1,694 | $1,992 | $2,491 | $3,046 |
| 44319 | $1,435 | $2,010 | $2,747 | $3,742 | $5,890 |
Source: Ownwell