North Canton, Summit County, Ohio Property Taxes
The median property tax rate in North Canton, OH is 1.36%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in North Canton at $228,950, the typical annual property tax bill reaches $3,027, exceeding the national median of $2,690. Property taxes in North Canton are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Canton'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 North Canton 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
North Canton, Summit County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$3,114
$2,889
Ownwell’s North Canton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Canton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Canton 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 North Canton, Summit County, Ohio
Property taxes in North Canton, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Canton is 1.36%, significantly higher than the U.S. national median of 0.99%. Local government entities within North Canton set these rates annually, and they can vary across different neighborhoods. Each year, North Canton 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. For comparison, the zip code 44720 has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these figures compare with North Canton 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 North Canton Tax Rate
1.36%
Average Summit County Tax Rate
1.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Canton, Summit County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44720 | 1.14% | 1.29% | 1.36% | 1.45% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across North Canton, Summit County, Ohio
In North Canton, 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 North Canton, 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 North Canton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 44720 has the highest and lowest median tax bill at $3,027.
Property Tax Assessment Values Across North Canton, Summit County, Ohio
Source: Ownwell
$45,690
$300,230
$554,770
Average North Canton Assessed Value
$228,950
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 North Canton, Summit County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44720 | $154,130 | $184,980 | $228,950 | $307,470 | $393,920 |
Source: Ownwell
Property Tax Bills Across North Canton, Summit County, Ohio
In North Canton, property tax bills are calculated based on the assessed value of a property, which is determined by the Summit County Auditor. The assessed value is typically a percentage of the property's market value. Once the assessed value is established, the tax rate is applied to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, improvements, and market conditions. For instance, in North Canton, the median home price is $228,950. Homeowners in the 25th percentile pay approximately $2,398 annually, while those in the 75th percentile face bills around $4,111. At the 90th percentile, the tax bill can reach up to $5,531. Comparatively, North Canton's property tax rates are slightly higher than the national median property tax rate of 0.99%. This variation in tax rates can significantly impact homeowners, affecting their annual financial planning and long-term investment in their properties. Understanding these factors helps homeowners anticipate their tax liabilities and manage their finances more effectively.
Average North Canton Tax Bill
$3,027
Average Summit County Tax Bill
$2,683
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across North Canton, Summit County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44720 | $1,967 | $2,398 | $3,027 | $4,111 | $5,531 |
Source: Ownwell