Montgomery County’s sales tax is 6% as of 2021. This implies that you will pay an additional six cents in sales tax for each dollar you spend on a taxable item. You will pay the same amount of sales tax whether you shop in a small town or a big city because this rate is the same throughout the entire county.
It’s important to remember that Montgomery County does not charge sales tax on some things. For instance, neither prescription drugs nor food nor clothing are subject to sales tax. The majority of consumer products, electronics, and furniture, among many others, are all subject to tax. What is the county tax in Ohio?
The state of Ohio has a county sales tax in addition to the state’s 5.75% sales tax rate. The county sales tax rate can vary from 0.75% to 2.75% and is county-specific. Remember that in addition to the state and county sales taxes, several cities in Ohio may also levy their own municipal sales taxes.
Toledo has Ohio’s lowest effective property tax rate at 1.57%, making it the best place to find property tax savings. This percentage is considerably less than the 1.62% state average. Cincinnati, Dayton, and Akron are some additional cities with reasonably low property tax rates.
Unfortunately, Ohio lacks a policy that totally exempts senior citizens from paying property taxes. Seniors can be qualified for a homestead exemption, which would lower their property tax liability. You must meet specific income requirements and be at least 65 years old or disabled in order to be eligible. To find out the precise criteria in your county, make sure to contact your local government.
On the other hand, Cleveland, Ohio, has the highest effective property tax rate in the state at 2.49%. Compared to the state average, this is more than 50% greater. Columbus, the state’s capital, levies property taxes at a rate of 2.23%, which is quite high.
In conclusion, anyone who lives or conducts business in Montgomery County, Pennsylvania and Ohio, should be aware of the rates for both the sales tax and the property tax. In Ohio, property tax rates can differ greatly by city and county although the sales tax is the same throughout Montgomery County. Some commodities are exempt from sales tax in both locations, and seniors may be eligible for a homestead exemption to lessen their property tax burden. You may make educated decisions regarding your spending and budgeting by being aware of these tax rates.