Higginsport, Ohio Property Taxes
The median property tax rate in Higginsport, OH is 1.52%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Higginsport at $47,050, the typical annual property tax bill reaches $702, which is significantly below the national median of $2,690. Property taxes in Higginsport 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 Higginsport'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 Higginsport 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
Higginsport, 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 Higginsport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Higginsport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Higginsport 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 Higginsport, Ohio
Property taxes in Higginsport, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Higginsport is 1.52%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Higginsport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Higginsport 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 Higginsport's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45131 zip code has both the highest and lowest median property tax rate of 1.52%. Understanding how these cities compare with Higginsport provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Higginsport Tax Rate
1.52%
Average Brown County Tax Rate
1.17%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Higginsport, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45131 | 0.91% | 1.40% | 1.52% | 1.53% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Higginsport, Ohio
In Higginsport, 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 Brown 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 Higginsport, 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. 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 Higginsport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Higginsport is $47,050, with the highest and lowest median tax bill both being $702 in the 45131 zip code.
Average Higginsport Assessed Value
$47,050
Average Brown County Assessed Value
$109,630
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Higginsport, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45131 | $8,218 | $18,035 | $47,050 | $78,265 | $114,772 |
Source: Ownwell
Property Tax Bills Across Higginsport, Ohio
In Higginsport, located in Brown County, OH, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is periodically reassessed to reflect current market conditions. Factors such as home improvements, neighborhood developments, and changes in the real estate market can influence this assessed value. Homeowners in Higginsport experience a range of tax bills. At the 25th percentile, property tax bills are around $212, while at the 75th percentile, they can reach up to $1,069. The 90th percentile sees tax bills as high as $1,735. The median home price in the area is $47,050, and the highest median tax bill recorded is $702 in the 45131 zip code. These property tax rates can significantly impact homeowners, affecting their annual budgets and overall cost of living. Compared to the national median property tax rate of 0.99%, Higginsport's rates present a unique financial landscape for its residents.
Average Higginsport Tax Bill
$702
Average Brown County Tax Bill
$1,244
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Higginsport, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45131 | $118 | $212 | $702 | $1,069 | $1,735 |
Source: Ownwell