Mogadore, Ohio Property Taxes
The median property tax rate in Mogadore, OH is 1.50%, which is considerably higher than the national median of 0.99%, but lower than the Ohio state median of 1.80%. With a median home value of $159,105 in Mogadore, the typical annual property tax bill reaches $2,327, slightly below the national median of $2,690. Property taxes in Mogadore are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mogadore'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 Mogadore or another part of Summit County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mogadore, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$2,387
$2,215
Ownwell’s Mogadore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mogadore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mogadore 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 Mogadore, Ohio
Property taxes in Mogadore, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mogadore is 1.50%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mogadore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mogadore 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 Mogadore's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44260 has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these areas compare with Mogadore 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 Mogadore Tax Rate
1.50%
Average Summit County Tax Rate
1.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mogadore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44260 | 1.18% | 1.48% | 1.50% | 1.52% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Mogadore, Ohio
In Mogadore, 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 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 Mogadore, 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 Mogadore 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 area are both $2,327, found in the 44260 zip code.
Average Mogadore Assessed Value
$159,105
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 Mogadore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44260 | $126,508 | $142,640 | $159,105 | $189,635 | $234,334 |
Source: Ownwell
Property Tax Bills Across Mogadore, Ohio
Property tax bills in Mogadore, located in Summit County, OH, are calculated based on the assessed value of a property, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual property tax bill. In Mogadore, the median home price is $159,105, and property taxes can vary significantly. For instance, homeowners in the 25th percentile pay around $2,011 annually, while those in the 75th percentile face bills closer to $2,826. The highest property tax bills in the area can reach up to $3,476. These property taxes are influenced by various factors, including local government budgets, school funding, and infrastructure needs. Compared to the national median property tax rate of 0.99%, Mogadore's rates reflect the specific demands and valuations within the community. For homeowners, this means that property taxes can be a significant part of their annual expenses, impacting affordability and financial planning.
Average Mogadore Tax Bill
$2,327
Average Summit County Tax Bill
$2,683
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mogadore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44260 | $1,679 | $2,011 | $2,327 | $2,826 | $3,476 |
Source: Ownwell