Newport, Ohio Property Taxes
The median property tax rate in Newport, Ohio is 1.16%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $78,280 in Newport, the typical annual property tax bill amounts to $852, falling below the national median of $2,690. Property taxes in Newport are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Newport'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 Newport 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
Newport, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Newport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newport 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 Newport, Ohio
Property taxes in Newport, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newport is 1.16%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Newport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newport 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 Newport's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45768 zip code has the highest median property tax rate of 1.16%, while the 45768 zip code also has the lowest median tax rate of 1.16%. Understanding how these cities compare with Newport provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newport Tax Rate
1.16%
Average Washington County Tax Rate
1.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newport, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45768 | 0.91% | 1.14% | 1.16% | 1.17% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Newport, Ohio
Understanding the distinction between "market value" and "assessed value" is essential for comprehending property taxes in Newport, Ohio. The market value represents 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 Washington 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 Newport, 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 example, Newport's median home price is $78,280, with tax bills ranging significantly. The 25th percentile tax bill is $279, while the 75th percentile tax bill is $1,498, and the 90th percentile tax bill reaches $1,995. The highest and lowest median tax bills both stand at $852 in the 45768 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage their tax burden.
Average Newport Assessed Value
$78,280
Average Washington County Assessed Value
$106,255
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newport, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45768 | $4,928 | $23,045 | $78,280 | $135,925 | $178,286 |
Source: Ownwell
Property Tax Bills Across Newport, Ohio
In Newport, Washington County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Newport’s median home price is $78,280, and the tax rates can significantly impact homeowners. For instance, the tax bill at the 25th percentile is $279, while at the 75th percentile, it rises to $1,498, and at the 90th percentile, it reaches $1,995. Factors such as property improvements, market conditions, and neighborhood developments can influence the assessed value. Compared to the national median property tax rate of 0.99%, Newport's rates reflect the economic conditions and funding requirements of the local government and schools. Homeowners in Newport, therefore, experience varying tax burdens that can affect their overall financial planning and property investment decisions.
Average Newport Tax Bill
$852
Average Washington County Tax Bill
$1,235
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Newport, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45768 | $59 | $279 | $852 | $1,498 | $1,995 |
Source: Ownwell