North Bloomfield, Trumbull County, Ohio Property Taxes
The median property tax rate in North Bloomfield, OH is 1.47%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in North Bloomfield, the typical annual property tax bill reaches $1,529, which is below the national median of $2,690. Property taxes in North Bloomfield 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 North Bloomfield'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 Bloomfield 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 Bloomfield, Trumbull County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$1,562
$1,449
Ownwell’s North Bloomfield Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in North Bloomfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Bloomfield 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 Bloomfield, Trumbull County, Ohio
Property taxes in North Bloomfield, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Bloomfield is 1.47%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within North Bloomfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Bloomfield 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 North Bloomfield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44450 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these areas compare with North Bloomfield 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 North Bloomfield Tax Rate
1.47%
Average Trumbull County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Bloomfield, Trumbull County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44450 | 1.03% | 1.35% | 1.47% | 1.57% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across North Bloomfield, Trumbull County, Ohio
In North Bloomfield, 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 North Bloomfield, 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 Bloomfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1529 in the 44450 zip code, while the lowest is also $1529 in the same zip code.
Property Tax Assessment Values Across North Bloomfield, Trumbull County, Ohio
Source: Ownwell
$26,700
$106,850
$187,000
Average North Bloomfield Assessed Value
$106,250
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 North Bloomfield, Trumbull County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44450 | $40,820 | $74,025 | $106,250 | $157,625 | $213,400 |
Source: Ownwell
Property Tax Bills Across North Bloomfield, Trumbull County, Ohio
In North Bloomfield, located in Trumbull County, OH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is determined by a county assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $106,250 in North Bloomfield, homeowners can expect tax bills that vary significantly. The 25th percentile tax bill is around $1,029, while the 75th percentile reaches $2,205, and the 90th percentile can be as high as $3,010. These figures indicate that tax bills in North Bloomfield can range widely depending on the specific assessed value of a property and any applicable exemptions. Compared to the national median property tax rate of 0.99%, North Bloomfield's rates reflect the local economic conditions and funding requirements for public services. Homeowners in this area should be aware of these factors as they significantly impact the overall cost of owning property.
Average North Bloomfield Tax Bill
$1,529
Average Trumbull County Tax Bill
$1,518
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across North Bloomfield, Trumbull County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44450 | $521 | $1,029 | $1,529 | $2,205 | $3,010 |
Source: Ownwell