What are Real Estate Taxes?
In the State of Ohio, real estate taxes are based upon the appraised value of property. Counties, cities, towns, villages, school districts, and special districts each raise money through real estate taxes. Governments have the abililty to levy taxes upon land located within their jursidiction. The money collected from taxes funds schools, pays for police and fire protection, maintains roads, and supports community services such as libraries and parks. Frequently Asked Questions Guide to Reading Your Tax Bill 2008 (Payable 2009) Tax Rates/Millage Rates Due Dates for the Current Tax Year View Property Records Property Classification, Value, and Description (Auditor’s Office) Current Property Taxes and Tax History If you have additional questions, please contact the Taxpayer Services Department by calling: 937-225-4010 Option 1 or by emailing to: taxpayer-services@mcohio.
Real Estate Taxes are those taxes which are paid upon land and improvements. Taxes are assessed by the Real Estate Assessor’s Office. Real Estate Taxes aid in supporting the many services provided by the City of Newport News. Police and fire protection, schools, parks, playgrounds, libraries and refuse pick up are but a few of the services provided.
Real estate taxes, also known as property taxes, are taxes imposed on real estate by a government for services rendered. The taxes are usually based on the relative value of the property. The more expensive the property, the higher the real estate taxes will be for that property. While real estate taxes are somewhat controversial, there is a substantial history behind them. Some say they are fair, simply because the tax is progressive. It is thought those with higher property values will have the ability to pay more, simply because they were able to afford more expensive properties. However, some have seen property values increase while still holding onto their property and never receiving a substantial increase in income. To help protect those people who have limited income but valuable property, some jurisdictions have imposed rules to help protect some from real estate taxes. In some cases, the protections even freeze real estate taxes at a certain level, as long as the property mai
Real estate taxes are taxes that homeowners pay on land and all property and/or improvements permanently connected to that land. Properties are generally assessed once a year by the Real Estate Assessors Office or similar office responsible for assessing real estate property for tax assessment purposes. The key to understanding how to reduce taxes is to recognize how the tax system works. Because assessed value is typically only a percentage of the actual market value of the home, most homeowners believe that their homes are assessed at a reduced rate. As an example, if the actual market value of a home is $200,000, it could be assessed for $100,000 for tax purposes. However, what homeowners do not know is that property taxes are computed by multiplying the assessed real estate value by an equalization ratio, which is determined by each state and is applied countywide or throughout the state’s taxing districts. The equalization ratio that is generally used by states is an average based
