Norton, Summit County, Ohio Property Taxes
The median property tax rate in Norton, Ohio is 1.37%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $181,045 in Norton, the typical annual property tax bill amounts to $2,443, slightly below the national median of $2,690. Property taxes in Norton are based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Gaining a thorough understanding of Norton’s property tax system, exploring available exemptions, and seeking opportunities for reductions can result in substantial annual savings. Whether you reside in Norton or another part of Summit County, being well-informed about the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Norton, Summit County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$2,480
$2,302
Ownwell’s Norton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Norton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norton 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 Norton, Summit County, Ohio
Property taxes in Norton, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norton is 1.37%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Norton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norton 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 Norton’s effective property tax rate to other counties in Ohio and the national median. For comparison, the 44203 zip code has the highest median property tax rate of 1.37%, while the 44203 zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Norton 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 Norton Tax Rate
1.37%
Average Summit County Tax Rate
1.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norton, Summit County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44203 | 1.10% | 1.26% | 1.37% | 1.48% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Norton, Summit County, Ohio
In Norton, 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 Norton, 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 Norton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 44203 has both the highest and lowest median tax bills, each at $2,443, providing a useful benchmark for residents.
Property Tax Assessment Values Across Norton, Summit County, Ohio
Source: Ownwell
$45,690
$300,230
$554,770
Average Norton Assessed Value
$181,045
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 Norton, Summit County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44203 | $110,903 | $145,908 | $181,045 | $228,512 | $292,750 |
Source: Ownwell
Property Tax Bills Across Norton, Summit County, Ohio
In Norton, located in Summit County, Ohio, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value. Homeowners in Norton see a range of property tax bills, with the 25th percentile at $1,918 and the 75th percentile at $3,118. For those in the 90th percentile, tax bills can reach up to $4,252. The median home price in Norton stands at $181,045, and the property tax rate here is influenced by various factors including local government budgets, school district needs, and public services. This rate can significantly impact homeowners, making it crucial to understand how property taxes are determined. Compared to the national median property tax rate of 0.99%, Norton’s rates can seem substantial, particularly for those in higher percentiles. This variability underscores the importance of accurate property assessments and an understanding of local tax policies for homeowners.
Average Norton Tax Bill
$2,443
Average Summit County Tax Bill
$2,683
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Norton, Summit County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44203 | $1,447 | $1,918 | $2,443 | $3,118 | $4,252 |
Source: Ownwell