Niles, Ohio Property Taxes
The median property tax rate in Niles, OH is 1.76%, slightly lower than the Ohio state median of 1.80% but significantly higher than the national median of 0.99%. With a median home value of $67,400 in Niles, the typical annual property tax bill amounts to $1,101, which is below the national median of $2,690. Property taxes in Niles are calculated based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Niles' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Niles 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
Niles, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.76%
Estimate Property Tax Bill
$1,186
$1,101
Ownwell’s Niles Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Niles with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Niles 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 Niles, Ohio
Property taxes in Niles, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Niles is 1.76%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Niles set these rates annually, and they can vary significantly across different neighborhoods. Each year, Niles 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 Niles' effective property tax rate to other counties in Ohio and the national median. For comparison, the 44446 zip code has the highest median property tax rate of 1.76%, while the 44446 zip code has the lowest median tax rate of 1.76%. Understanding how these cities compare with Niles 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 Niles Tax Rate
1.76%
Average Trumbull County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Niles, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44446 | 1.10% | 1.71% | 1.76% | 1.76% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Niles, Ohio
In Niles, 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 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 Niles, 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 Niles helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 44446, with a median tax bill of $1,101.
Average Niles Assessed Value
$67,400
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 Niles, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44446 | $33,690 | $47,200 | $67,400 | $94,600 | $138,200 |
Source: Ownwell
Property Tax Bills Across Niles, Ohio
In Niles, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate in Trumbull County is applied to this assessed value to determine the annual property tax bill. For instance, with a median home price of $67,400, homeowners can expect varying tax bills depending on specific factors such as property size, location, and any applicable exemptions. Homeowners in Niles typically see tax bills ranging from $764 at the 25th percentile to $1,587 at the 75th percentile, with the 90th percentile reaching up to $2,349. This range indicates that while some homeowners might pay relatively lower taxes, others could face higher bills depending on their property's value and other influencing factors. Compared to the national median property tax rate of 0.99%, Niles' rates reflect the local economic conditions and property values, directly impacting homeowners' financial responsibilities. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Niles Tax Bill
$1,101
Average Trumbull County Tax Bill
$1,518
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Niles, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44446 | $509 | $764 | $1,101 | $1,587 | $2,349 |
Source: Ownwell