Orwell, Ohio Property Taxes
The median property tax rate in Orwell, OH is 1.47%, 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 Orwell at $127,250, the typical annual property tax bill reaches $1,793, falling below the national median of $2,690. Property taxes in Orwell 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 Orwell'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 Orwell 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
Orwell, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$1,871
$1,736
Ownwell’s Orwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Orwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orwell 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 Orwell, Ohio
Property taxes in Orwell, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orwell is 1.47%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Orwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orwell 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 Orwell's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44076 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 cities compare with Orwell 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 Orwell 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 Orwell, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44076 | 1.15% | 1.43% | 1.47% | 1.47% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Orwell, Ohio
In Orwell, Ohio, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 Orwell, 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. For instance, the median home price in Orwell is $127,250, with tax bills ranging from $1,148 at the 25th percentile to $3,391 at the 90th percentile. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Awareness of these valuation processes in Orwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Orwell Assessed Value
$127,250
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 Orwell, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44076 | $47,270 | $82,850 | $127,250 | $187,450 | $241,600 |
Source: Ownwell
Property Tax Bills Across Orwell, Ohio
In Orwell, located in Trumbull County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $127,250, the tax bill can vary significantly. Factors such as property improvements, neighborhood developments, and changes in local government budgets can affect the assessed value and, subsequently, the tax bill. Homeowners in Orwell can expect their tax bills to range widely, with the 25th percentile at $1,148 and the 75th percentile reaching up to $2,618. For those in the 90th percentile, tax bills can be as high as $3,391. These figures are significant when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly, ensuring they are not caught off guard by their annual property tax bills.
Average Orwell Tax Bill
$1,793
Average Trumbull County Tax Bill
$1,518
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Orwell, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44076 | $682 | $1,148 | $1,793 | $2,618 | $3,391 |
Source: Ownwell