Example of Portage County Property Tax Calculation
Portage County calculates property taxes based on the assessed value of the property. The assessed value is determined by the county assessor's office, and is typically a percentage of the property's fair market value.
To calculate the property tax, the assessed value is multiplied by the millage rate, which is a tax rate expressed in mills (1/1000 of a dollar). For example, if the assessed value of a property is $100,000 and the millage rate is 50 mills, the property tax would be $5,000 (100 x 50 = 5,000).
In addition to the county tax, there may also be separate taxes levied by the city/township, school district, and other local entities. These taxes are added together to determine the total property tax for the year.
It's important to note that property taxes can vary greatly depending on the location and type of property. Homeowners can typically expect to receive a property tax bill once or twice a year, depending on the local tax schedule.
If you want appeal your property tax assessment - contact your local tax assessor.
Portage County Property Tax Rates
The Portage County Property Tax rates for the current year are presented in the following table:
| Tax | Rate per $100 Assessed Value |
|---|---|
| County Tax | $0.41 |
| School District | $1.65 |
| Municipality Tax | $0.60 - $3.15 (depending on location) |
It is important to note that the municipality tax rate varies depending on where the property is located within Portage County. It is recommended to consult with a tax professional for further guidance on property tax calculations and payments.
Who sets property tax rates in Portage County ?
Who sets property tax rates in Portage County?
The Portage County Board of Commissioners is responsible for setting property tax rates in Portage County.
When are property tax rates set in Portage County?
The property tax rates in Portage County are set annually, usually in the late summer or early fall. The Commissioner's Office sets the rates after receiving input from the County Auditor and the Ohio Department of Taxation.
How are property tax rates determined in Portage County?
The property tax rates in Portage County are determined based on the assessed property values in the county and the budgetary needs of the county government. The County Auditor establishes the assessed values of all properties in the county, and the County Commissioners determine the budgetary needs of the county government. Once these factors are determined, the Commissioners set the property tax rates for the year.
How can property owners in Portage County find out their property tax rates?
Property owners in Portage County can find out their property tax rates by contacting the Portage County Auditor's Office or by visiting the County Auditor's website. Property owners can also find information about their property tax rates on their property tax bills, which are issued annually.
Homestead exemptions in Portage County ?
To help homeowners in Portage County, Ohio understand their property tax exemptions, deductions and eligibility, the following table outlines all county-specific Homestead exemptions and deductions available:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Must be age 65 or older, or permanently and totally disabled, or a surviving spouse of a person who was receiving the Homestead Exemption at the time of their death | Up to $25,000 of the home's value | Reduces the taxable value of the qualifying individual's home |
| Disabled Veterans' Exemption | A disabled veteran who served on active duty and was honorably discharged or released under honorable conditions | Up to $50,000 of the home's value | Reduces the taxable value of the veteran's home |
| Surviving Spouse of a First Responder Exemption | Surviving spouse of a first responder who died in the line of duty | Up to $25,000 of the home's value | Reduces the taxable value of the surviving spouse's home |
| Homestead Exemption for Disabled Veterans | A disabled veteran who was honorably discharged, received a 100% disability rating or is compensated at the 100% rate | Up to $50,000 of the home's value | Reduces the taxable value of the veteran's home |
| Homestead Exemption for Surviving Spouses of Veterans | Surviving spouse of a veteran who died of a service-connected disability | Up to $50,000 of the home's value | Reduces the taxable value of the surviving spouse's home |
It's important to note that eligibility and application requirements for these exemptions can vary. Homeowners are encouraged to contact the Portage County Auditor's office for more information on how to apply for the above exemptions and deductions.
When is Portage County Property Tax due ?
Portage County Property Tax is typically due on January 31st of each year. Property owners should receive a tax bill in the mail sometime in December or early January.
There are several payment methods available to pay Portage County Property Tax. Property owners can choose to pay with cash, check, or credit card. Payments can be made in person at the Portage County Treasurer's Office, online through the county's website, or through the mail.
Here is a table summarizing payment methods:
| Payment Method | Description |
|---|---|
| In-Person | Pay with cash, check or credit card at the Portage County Treasurer's Office |
| Online | Pay with credit card online through the county's website |
| Send a check or money order through the mail |
It's important to note that failure to pay Portage County Property Tax by the due date will result in penalties and interest added to the overdue amount. Therefore, property owners are encouraged to pay their property tax on time to avoid any additional costs.
If you have more questions - contact your local tax collector.
How is Portage County Property Tax penalty calculated ?
Portage County calculates property tax penalties based on a percentage of the unpaid taxes. Here is an example of how the penalty is calculated:
Let's say a property owner in Portage County has a total tax bill of $2,500. They are unable to pay the full amount by the due date of January 31st. They pay $2,000 on February 15th, leaving $500 unpaid.
The penalty for late payment in Portage County is 1.5% per month, or 18% per year. Since the property owner is late by one month, the penalty would be 1.5% of the unpaid $500, which is $7.50.
In addition to the penalty, interest will also accrue on the unpaid balance until it is paid in full. The interest rate in Portage County is currently set at 12%.
Here is a breakdown of the penalty and interest for this example:
| Amount | |
|---|---|
| Original tax bill | $2,500 |
| Payment made on Feb. 15th | -$2,000 |
| Amount still owed | $500 |
| Penalty (1.5% of $500) | $7.50 |
| Interest (12% per year) | $5.00 |
| Total amount owed | $512.50 |
It's important to note that the penalty and interest rates can change from year to year, so property owners should always confirm the current rates with the Portage County Treasurer's office.
We recommend contacting the Portage County Tax Office or a local tax professional for the most up-to-date and accurate information.