Collinsville, Ohio Property Taxes
The median property tax rate in Collinsville, OH is 0.97%, slightly below the national median of 0.99% and significantly lower than the Ohio state median of 1.80%. With the median home value in Collinsville at $103,355, the typical annual property tax bill reaches $1,001, which is less than the national median of $2,690. Property taxes in Collinsville are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Collinsville'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 Collinsville 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
Collinsville, 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 Collinsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collinsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collinsville 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 Collinsville, Ohio
Property taxes in Collinsville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Collinsville is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within Collinsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collinsville 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 Collinsville's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45004 has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these cities compare with Collinsville provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Collinsville Tax Rate
0.97%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collinsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45004 | 0.92% | 0.94% | 0.97% | 1.37% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Collinsville, Ohio
In Collinsville, 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 Butler 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 Collinsville, 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 Collinsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1001, specifically in the 45004 zip code.
Average Collinsville Assessed Value
$103,355
Average Butler County Assessed Value
$217,015
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Collinsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45004 | $5,448 | $38,078 | $103,355 | $163,932 | $186,440 |
Source: Ownwell
Property Tax Bills Across Collinsville, Ohio
In Collinsville, located in Butler County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the assessed value, including the home's location, size, condition, and recent sales of comparable properties in the area. For homeowners in Collinsville, the median home price stands at $103,355. Property tax bills can vary significantly, with the 25th percentile bill at $520 and the 75th percentile at $1,469. At the 90th percentile, homeowners might expect a tax bill of around $1,745. These figures indicate that property taxes can have a considerable impact on household budgets, with some areas in the county, such as zip code 45004, having a median tax bill of $1,001. Compared to the national median property tax rate of 0.99%, Collinsville's property taxes reflect the region's specific economic and real estate conditions.
Average Collinsville Tax Bill
$1,001
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Collinsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45004 | $76 | $520 | $1,001 | $1,469 | $1,745 |
Source: Ownwell