Hartford, Ohio Property Taxes
The median property tax rate in Hartford, Ohio is 1.43%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Hartford at $123,750, the typical annual property tax bill reaches $1,979, exceeding the national median of $2,690. Property taxes in Hartford 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 Hartford'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 Hartford 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
Hartford, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$1,770
$1,642
Ownwell’s Hartford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hartford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hartford 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 Hartford, Ohio
Property taxes in Hartford, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hartford is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hartford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hartford 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 Hartford's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44424 zip code has the highest median property tax rate of 1.43%, while the 44424 zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Hartford provides valuable insights into the varying tax landscape across Trumbull County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hartford Tax Rate
1.43%
Average Trumbull County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hartford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44424 | 1.01% | 1.20% | 1.43% | 1.67% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Hartford, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hartford, Ohio. 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 Trumbull 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 Hartford, 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 Hartford is $1,979 in zip code 44424. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hartford Assessed Value
$123,750
Average Trumbull County Assessed Value
$82,000
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hartford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44424 | $35,940 | $73,725 | $123,750 | $216,350 | $323,210 |
Source: Ownwell
Property Tax Bills Across Hartford, Ohio
In Hartford, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local authorities in Trumbull County determine the assessed value by evaluating various factors, including location, property size, and recent sales of similar homes in the area. Once the assessed value is established, the tax rate is applied to calculate the annual tax bill. Homeowners in Hartford experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $1,121, while at the 75th percentile, it reaches $2,969. At the 90th percentile, the bill can be as high as $3,826. These figures show a significant variance, reflecting the diversity in property values and assessments within the city. The median home price in Hartford is $123,750, which influences the overall tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Hartford's property taxes can have a substantial impact on homeowners' finances, making it crucial to understand how these taxes are calculated and managed.
Average Hartford Tax Bill
$1,979
Average Trumbull County Tax Bill
$1,518
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Hartford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44424 | $307 | $1,121 | $1,979 | $2,969 | $3,826 |
Source: Ownwell