Irwin, Ohio Property Taxes
The median property tax rate in Irwin, OH is 1.41%, which is notably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Irwin at $161,790, the typical annual property tax bill amounts to $2,293, which is below the national median of $2,690. Property taxes in Irwin are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Irwin'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 Irwin or another part of the city, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Irwin, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$2,281
Ownwell’s Irwin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Irwin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Irwin 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 Irwin, Ohio
Property taxes in Irwin, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Irwin is 1.41%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Irwin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Irwin 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 Irwin's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43029 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Irwin provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Irwin Tax Rate
1.41%
Average Union County Tax Rate
1.44%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Irwin, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43029 | 1.09% | 1.41% | 1.41% | 1.45% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Irwin, Ohio
In Irwin, 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 Union 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 Irwin, 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 Irwin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,293, found in the 43029 zip code.
Average Irwin Assessed Value
$161,790
Average Union County Assessed Value
$249,955
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Irwin, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43029 | $67,946 | $110,365 | $161,790 | $252,795 | $392,076 |
Source: Ownwell
Property Tax Bills Across Irwin, Ohio
In Irwin, Union County, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value typically represents a percentage of the property's market value. Homeowners in Irwin face a median property tax rate of 0.99%, aligning with the national median. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For instance, the median home price in Irwin is $161,790, leading to varying tax bills. Homeowners in the 25th percentile pay around $1,556 annually, while those in the 75th percentile face a tax bill of approximately $3,582. At the 90th percentile, the tax bill can soar to $5,357. The highest median tax bill in the area is $2,293, found in the 43029 zip code. These tax obligations significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding these factors can help residents better anticipate their property tax responsibilities.
Average Irwin Tax Bill
$2,293
Average Union County Tax Bill
$3,900
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Irwin, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43029 | $1,120 | $1,556 | $2,293 | $3,582 | $5,357 |
Source: Ownwell