Fayetteville, Ohio Property Taxes
The median property tax rate in Fayetteville, OH is 2.43%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Fayetteville at $108,300, the typical annual property tax bill reaches $2,808, exceeding the national median of $2,690. Property taxes in Fayetteville 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 Fayetteville'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 Fayetteville 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
Fayetteville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.43%
Estimate Property Tax Bill
$2,632
Ownwell’s Fayetteville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fayetteville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Fayetteville to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, helping you make informed decisions. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Fayetteville, Ohio
Property taxes in Fayetteville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fayetteville is 2.43%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fayetteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fayetteville 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 Fayetteville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45118 zip code has the highest median property tax rate of 2.43%, while the same zip code also has the lowest median tax rate of 2.43%. Understanding how these cities compare with Fayetteville provides valuable insights into the varying tax landscape across Clermont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fayetteville Tax Rate
2.43%
Average Clermont County Tax Rate
4.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fayetteville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | 2.37% | 2.41% | 2.43% | 2.54% | 2.55% |
Source: Ownwell
Property Tax Assessment Values Across Fayetteville, Ohio
In Fayetteville, 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 Clermont 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 Fayetteville, 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 instance, the median home price in Fayetteville is $108,300, with tax bills ranging from $1,265 at the 25th percentile to $5,070 at the 90th percentile. The highest median tax bill is $2,808 in the 45118 zip code, which also has the lowest median tax bill. By understanding 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 Fayetteville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fayetteville Assessed Value
$108,300
Average Clermont County Assessed Value
$145,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fayetteville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | $1,520 | $44,950 | $108,300 | $154,350 | $203,460 |
Source: Ownwell
Property Tax Bills Across Fayetteville, Ohio
In Fayetteville, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. This assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. The tax rate, applied to this assessed value, is influenced by local government budgets and voter-approved levies, directly impacting the final tax bill. For homeowners in Fayetteville, the median home price stands at $108,300. Property tax bills can vary significantly, with the 25th percentile at $1,265, the 75th percentile at $3,975, and the 90th percentile reaching $5,070. These figures highlight the range of tax obligations residents might face, depending on the specific valuation and applicable tax rates. Compared to the national median property tax rate of 0.99%, Fayetteville’s property tax rates can be relatively high, affecting homeowners' annual financial planning. Understanding these factors is crucial for homeowners to anticipate their tax obligations and manage their finances effectively.
Average Fayetteville Tax Bill
$2,808
Average Clermont County Tax Bill
$6,844
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fayetteville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | $351 | $1,265 | $2,808 | $3,975 | $5,070 |
Source: Ownwell