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FOR IMMEDIATE RELEASE
March 15, 2007
Don’t make special trip to pay taxes, Treasurer advises
Real estate payments postmarked by today accepted as on time
YOUNGSTOWN – Today is the deadline for Mahoning County real estate owners to pay their first-half taxes without penalty, but Treasurer Lisa Antonini doesn’t want people to make a special trip to the courthouse in today’s bad weather.
“This is a good time to remind taxpayers that payments can be mailed. Any payment that is postmarked today will be accepted as on time,” Antonini said.
Checks should be made payable to Antonini and sent to the Treasurer’s Office, 120 Market St., Youngstown, OH 44503.
For information, call the Treasurer’s Office at (330) 740-2460.
March Tax Questions Answered 3/8/07 Common Questions concerning 1st half taxes
The deadline to pay first-half real estate taxes in Mahoning County is March 15, 2007. The Treasurer’s Office is preparing bills to be mailed in mid-February. Any property owner who does not receive a bill by Feb. 28 should call the Treasurer’s Office at that time. The telephone number is (330) 740-2460.
The Treasurer’s Office offers a number of payment options for your convenience. If you prefer to pay in person, the office is open from 8 a.m. to 4:30 p.m. weekdays. Payments may be sent via mail but must be postmarked no later than March 15 to avoid penalties. For payments by credit card, call (800) 272-9829 or use the web site www.officialpayments.com. In either case, you will need to know your parcel number and the county’s jurisdiction code (4537). Please note, Official Payments will charge a convenience fee.
The Treasurer’s Office also offers a Tax Installment Plan (TIP) that allows people to prepay their property taxes. Payments are spread out over as many as five months. Money is held in an escrow account until the next current tax collection is open. The money in escrow will be applied toward the payment of real estate taxes then due.
TIP is available to all taxpayers who are current on their payments. New participants may sign up for TIP after first-half taxes have been paid in full. For more information, read the Tax Installment Plan brochure.
Some fast facts about your real estate tax bill:
- In Ohio, the tax year and the collection year are not the same. That is why taxes for the year 2006 are being collected this year.
- Taxes are billed in biannual installments. Second-half taxes will be due in August.
- By law, the current owner is billed for last year’s taxes. If you purchased property in Mahoning County in 2006, you may have been compensated for taxes when the real estate transaction was finalized. Contact the banker, real estate agent or title company office that handled your purchase for details.
- The taxable value of your property is 35 percent of what the County Auditor says is fair market value of your land and improvements (house, garage, etc.). Fair market value reflects the quality of your property and what similar properties in that neighborhood have sold for lately.
- Tax levies are stated in mills. A mill is $1 in tax for every $1,000 in assessed property value.
- State law also mandates that voted levies must generate the same amount of money each year. In other words, mills decrease when property values increase. The adjusted figure is called the effective tax rate. Revenue from voted levies grows only when new construction is added to a taxing district.
- Assessments are fees for street lighting, water, sewer, 911 services and more.
- As for credits, you may be eligible for a 10 percent reduction under Ohio’s tax relief law. There’s an additional 2-1/2 percent rollback for owner-occupied homes, and a Homestead Reduction for senior citizens and permanently disabled persons who meet income guidelines. All credits are approved by the County Auditor and reported to the Treasurer for billing purposes.
- On average, nearly two-thirds of all real estate taxes go to school districts in Mahoning County. Approximately 12 percent is allocated to municipal or township governments. Two percent is collected for locally-approved levies, such as police and fire districts and public transit. Remaining funds are shared by voter-approved levies for countywide libraries, parks, children’s services and more. The county’s general and bond retirement fund each receive less than 2 percent of tax collections.
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