Example of Belmont County Property Tax Calculation
Belmont County calculates property taxes by taking a percentage of the assessed property value. The assessed property value is determined by the county auditor and represents the estimated market value of the property.
For example, let's say a property in Belmont County has an assessed value of $100,000. To calculate the property tax, the county will take a percentage of that assessed value, which varies based on the property's location and the type of property.
Assuming a tax rate of 1%, the property owner would owe $1,000 in property taxes for the year. This tax amount may be further divided into multiple installments to be paid over the course of the year.
It is important to note that exemptions and deductions may be available to property owners, which can lower the overall tax bill. These can include exemptions for veterans, senior citizens, and individuals with disabilities, as well as deductions for home improvements and energy-efficient upgrades.
If you want appeal your property tax assessment - contact your local tax assessor.
Belmont County Property Tax Rates
Here is a formatted table listing Belmont County Property Tax rates in US dollars per $100 of assessed value:
| Tax | Rate per $100 of assessed value |
|---|---|
| Residential | $2.72 |
| Agricultural | $1.30 |
| Commercial | $4.89 |
| Industrial | $4.89 |
| Public Utility | $4.89 |
Belmont County's property tax rates are determined by the local government and are subject to change. Property owners in Belmont County should consult with a tax advisor to ensure they are paying the correct amount of property taxes.
Who sets property tax rates in Belmont County ?
- The property tax rates in Belmont County are set by the Belmont County Commissioners.
- This is done annually and the rates for the upcoming year are typically set in December or January.
- The rates are determined based on a variety of factors such as the county's budget, the value of properties in the area, and any changes in state tax laws.
- Property owners in Belmont County can expect to receive their tax bills in early February each year, with payments due by mid-April.
Homestead exemptions in Belmont County ?
Belmont County in Ohio offers different Homestead exemptions and deductions that homeowners can take advantage of. Here is a table containing the columns exemption, eligibility, amount, and notes, which includes all county-specific Homestead exemptions and deductions in Belmont County:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Homeowners who own and occupy their home as of January 1st of each year | $25,000 | Reduces the taxable value of the home |
| Senior Citizen Homestead Exemption | Homeowners who are at least 65 years old and own and occupy their home as of January 1st of each year | Additional $25,000 | Reduces the taxable value of the home |
| Disabled Veterans Homestead Exemption | Veterans who have a 100% service-connected disability rating and own and occupy their home as of January 1st of each year | $50,000 | Reduces the taxable value of the home |
| Homestead Tax Reduction | Homeowners who are at least 65 years old or totally and permanently disabled, and have a total household income of $32,800 or less | Up to $400 | Reduces property taxes |
| Owner-Occupied Credit | Homeowners who own and occupy their home as of January 1st of each year | Up to $175 | Reduces property taxes |
| Agricultural Use Valuation | Property owners who use their land for agricultural purposes | Reduced property tax rate | Land must have been used for agricultural purposes for at least three years |
It's important to note that eligibility requirements and amounts may vary. Homeowners should consult with their county assessor's office or a tax professional to determine their eligibility and the appropriate deduction or exemption to apply for.
When is Belmont County Property Tax due ?
Belmont County Property Tax is typically due on February 20th each year. However, if February 20th falls on a weekend or holiday, the due date will be moved to the next business day.
There are several payment methods available for Belmont County Property Tax. These include:
| Payment Method | Description |
|---|---|
| In-person | Payments can be made in person at the Belmont County Auditor's office located in St. Clairsville, Ohio. Accepted forms of payment include cash, check, and money order. |
| Payments can be mailed to the Belmont County Auditor's office. Checks and money orders are accepted as forms of payment. | |
| Online | Property owners can also pay their property taxes online through the Belmont County Auditor's website. Accepted forms of payment include debit card and e-check. Credit cards are not accepted. |
It's important to note that late payments will result in penalties and interest charges. Property owners who are unable to pay their property taxes in full by the due date may be eligible for a payment plan. Contact the Belmont County Auditor's office for more information.
If you have more questions - contact your local tax collector.
How is Belmont County Property Tax penalty calculated ?
Belmont County Property Tax Penalty Calculation
The penalty for late payment of property taxes in Belmont County is calculated based on the amount owed and the number of days late. The penalty is assessed at a rate of 5% per month, or fraction thereof, that the payment is late. This means that if a payment is one day late, the penalty will be assessed for one full month.
Example:
Let's say that John owns a property in Belmont County and owes $1,000 in property taxes. The due date for the taxes is January 31st, but John is unable to pay until March 15th.
To calculate the penalty, we first need to determine how many months John's payment is late. The due date was January 31st, and John paid on March 15th, so the payment is 1 month and 15 days late.
The penalty is assessed at a rate of 5% per month, so for the first month, John would be assessed a penalty of $50 (5% of $1,000). For the partial month of February, he would be assessed another $50 (5% of $1,000) since the payment was still late. Finally, for the 15 days in March, he would be assessed a penalty of $25 (5% of $1,000 divided by 2, since it is a fraction of a month).
Therefore, the total penalty assessed would be $125, in addition to the $1,000 in property taxes owed.
In summary, the penalty for late payment of property taxes in Belmont County is assessed at a rate of 5% per month or fraction thereof, based on the amount owed and the number of days late. It's important for property owners to pay their taxes on time to avoid penalties like the one in our example.
We recommend contacting the Belmont County Tax Office or a local tax professional for the most up-to-date and accurate information.