Homerville, Ohio Property Taxes
The median property tax rate in Homerville, OH is 1.66%, 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 Homerville at $133,270, the typical annual property tax bill reaches $2,216, which is below the national median of $2,690. Property taxes in Homerville 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 Homerville'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 Homerville or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Homerville, 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 Homerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Homerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Homerville 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 Homerville, Ohio
Property taxes in Homerville, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Homerville is 1.66%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Homerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Homerville 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 Homerville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44235 zip code has both the highest and the lowest median property tax rate of 1.66%. Understanding how these cities compare with Homerville provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Homerville Tax Rate
1.66%
Average Wayne County Tax Rate
1.80%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Homerville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44235 | 1.66% | 1.66% | 1.66% | 1.66% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Homerville, Ohio
In Homerville, 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 Wayne 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 Homerville, 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. The median home price in Homerville is $133,270, with the highest median tax bill recorded at $2,216 in the 44235 zip code, which also has the lowest median tax bill at the same amount. 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 Homerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Homerville Assessed Value
$133,270
Average Wayne County Assessed Value
$144,025
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Homerville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44235 | $133,270 | $133,270 | $133,270 | $133,270 | $133,270 |
Source: Ownwell
Property Tax Bills Across Homerville, Ohio
In Homerville, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. The tax rate, also known as the millage rate, is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location within Wayne County, any applicable exemptions, and the specific tax rates set by local governing bodies. For homeowners in Homerville, the median home price is $133,270, resulting in a median tax bill of $2,216. This amount is significantly higher than the national median property tax rate of 0.99%, reflecting the local economic conditions and funding needs for public services. High property taxes can impact homeowners by increasing their annual housing costs, which may affect affordability and overall financial planning. Understanding how these taxes are calculated and what influences them can help homeowners better anticipate and manage their expenses.
Average Homerville Tax Bill
$2,216
Average Wayne County Tax Bill
$2,548
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Homerville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44235 | $2,216 | $2,216 | $2,216 | $2,216 | $2,216 |
Source: Ownwell