Somerdale, Ohio Property Taxes
The median property tax rate in Somerdale, OH is 1.45%, 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 Somerdale at $75,330, the typical annual property tax bill reaches $1,113, which is still below the national median of $2,690. Property taxes in Somerdale 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 Somerdale'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 Somerdale 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
Somerdale, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$1,092
Ownwell’s Somerdale Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Somerdale with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Somerdale to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Somerdale, Ohio
Property taxes in Somerdale, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Somerdale is 1.45%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Somerdale set these rates annually, and they can vary across different neighborhoods. Each year, Somerdale 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 Somerdale's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44678 zip code has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these figures compare with Somerdale 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 Somerdale Tax Rate
1.45%
Average Tuscarawas County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Somerdale, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44678 | 0.93% | 1.44% | 1.45% | 1.48% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Somerdale, Ohio
In Somerdale, 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 Somerdale, 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. The median home price in Somerdale is $75,330, with tax bills ranging from $308 at the 25th percentile to $2,076 at the 90th percentile. The zip code 44678 has the highest and lowest median tax bill, both at $1,113. Being aware of these valuation processes in Somerdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Somerdale Assessed Value
$75,330
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 Somerdale, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44678 | $10,424 | $21,680 | $75,330 | $105,450 | $136,776 |
Source: Ownwell
Property Tax Bills Across Somerdale, Ohio
In Somerdale, located in Tuscarawas 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 property tax bill. For example, with a median home price of $75,330, the tax bill can vary significantly. Homeowners at the 25th percentile pay around $308 annually, while those at the 75th percentile see bills closer to $1,554. At the 90th percentile, tax bills can reach up to $2,076. These figures illustrate the range of property tax burdens within Somerdale, highlighting how assessed values and local tax rates impact homeowners. With the national median property tax rate at 0.99%, comparing local rates can help homeowners understand their relative tax burden. Accurate assessments and understanding local tax rates are crucial for homeowners to manage their annual property tax expenses effectively.
Average Somerdale Tax Bill
$1,113
Average Tuscarawas County Tax Bill
$1,645
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Somerdale, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44678 | $91 | $308 | $1,113 | $1,554 | $2,076 |
Source: Ownwell