Mineral City, Ohio Property Taxes
The median property tax rate in Mineral City, OH is 1.46%, 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 in Mineral City of $102,690, the typical annual property tax bill reaches $1,589, falling below the national median of $2,690. Property taxes in Mineral City are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mineral City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mineral City or another part of the area, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mineral City, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$1,499
$1,391
Ownwell’s Mineral City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mineral City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mineral City 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 Mineral City, Ohio
Property taxes in Mineral City, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mineral City is 1.46%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mineral City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mineral City 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 Mineral City's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44656 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Mineral City provides valuable insights into the varying tax landscape across Tuscarawas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mineral City Tax Rate
1.46%
Average Tuscarawas County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mineral City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44656 | 1.24% | 1.44% | 1.46% | 1.71% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Mineral City, Ohio
In Mineral City, 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 Tuscarawas 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 Mineral City, 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. Mineral City has a median home price of $102,690, with tax bills ranging from $747 at the 25th percentile to $3,651 at the 90th percentile. The zip code 44656 has the highest and lowest median tax bill at $1,589. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mineral City Assessed Value
$102,690
Average Tuscarawas County Assessed Value
$122,160
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mineral City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44656 | $16,810 | $52,102 | $102,690 | $174,152 | $255,400 |
Source: Ownwell
Property Tax Bills Across Mineral City, Ohio
In Mineral City, Tuscarawas County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For homeowners in this region, the median home price is $102,690. Property tax rates are then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, the local tax rate, and any applicable exemptions. The tax bill can vary significantly; for instance, in the 25th percentile, homeowners might pay around $747, while in the 75th percentile, the tax bill can reach up to $2,583. At the 90th percentile, it can go as high as $3,651. These variations reflect differences in property values and specific local tax rates. For homeowners, these tax bills represent a significant annual expense, impacting their overall cost of living. Comparing these figures to the national median property tax rate of 0.99%, Mineral City's rates can provide both challenges and benefits depending on individual circumstances.
Average Mineral City Tax Bill
$1,589
Average Tuscarawas County Tax Bill
$1,645
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mineral City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44656 | $250 | $747 | $1,589 | $2,583 | $3,651 |
Source: Ownwell