Bentonville, Ohio Property Taxes
The median property tax rate in Bentonville, OH is 1.30%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Bentonville, the typical annual property tax bill reaches $241, which is lower than the national median of $2,690. Property taxes in Bentonville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bentonville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bentonville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bentonville, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Bentonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bentonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bentonville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bentonville, Ohio
Property taxes in Bentonville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bentonville is 1.30%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Bentonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bentonville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Bentonville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45105 zip code has both the highest and lowest median property tax rate of 1.30%. Understanding how these cities compare with Bentonville provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bentonville Tax Rate
1.30%
Average Adams County Tax Rate
1.44%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bentonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45105 | 0.78% | 1.28% | 1.30% | 1.35% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Bentonville, Ohio
In Bentonville, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Adams County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Bentonville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For example, the median home price in Bentonville is $17,900, and the tax bill at the 25th percentile is $168, while at the 75th percentile, it is $339. The highest median tax bill is $241 in zip code 45105. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Bentonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bentonville Assessed Value
$17,900
Average Adams County Assessed Value
$61,700
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bentonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45105 | $6,140 | $12,650 | $17,900 | $39,500 | $62,840 |
Source: Ownwell
Property Tax Bills Across Bentonville, Ohio
In Bentonville, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. For instance, in Bentonville, the median home price stands at $17,900, which is significantly lower than the national median. The tax bills in Bentonville vary widely, with the 25th percentile at $168 and the 75th percentile at $339. At the higher end, the 90th percentile tax bill reaches $622. These tax bills impact homeowners by contributing to their overall housing costs, potentially influencing decisions about buying or selling property. Comparatively, Bentonville's property tax rates offer a more affordable option for homeowners, especially when contrasted with the national median property tax rate of 0.99%. This affordability can be an attractive factor for potential buyers considering relocation.
Average Bentonville Tax Bill
$241
Average Adams County Tax Bill
$833
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bentonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45105 | $117 | $168 | $241 | $339 | $622 |
Source: Ownwell