Georgetown, Ohio Property Taxes
The median property tax rate in Georgetown, OH is 2.57%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Georgetown at $53,200, the typical annual property tax bill reaches $1,510, exceeding the national median of $2,690. Property taxes in Georgetown are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Georgetown'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 Georgetown 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
Georgetown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.57%
Estimate Property Tax Bill
$1,367
Ownwell’s Georgetown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Georgetown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Georgetown 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 Georgetown, Ohio
Property taxes in Georgetown, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Georgetown is 2.57%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Georgetown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Georgetown 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 Georgetown's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45121 zip code has both the highest and lowest median property tax rate of 2.57%. Understanding how these cities compare with Georgetown 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 Georgetown Tax Rate
2.57%
Average Clermont County Tax Rate
4.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Georgetown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45121 | 2.32% | 2.53% | 2.57% | 2.59% | 2.60% |
Source: Ownwell
Property Tax Assessment Values Across Georgetown, Ohio
In Georgetown, 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 Georgetown, 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 Georgetown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,510 in the 45121 zip code, while the lowest median tax bill is also $1,510 in the same zip code.
Average Georgetown Assessed Value
$53,200
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 Georgetown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45121 | $5,300 | $24,250 | $53,200 | $91,150 | $150,900 |
Source: Ownwell
Property Tax Bills Across Georgetown, Ohio
In Georgetown, located in Clermont 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 tax bill. Factors such as improvements to the property, changes in the local tax rate, and overall market conditions can influence the assessed value and, consequently, the tax bill. Homeowners in Georgetown can expect property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,006, while those at the 75th and 90th percentiles are $2,458 and $4,189, respectively. Comparatively, the national median property tax rate is 0.99%, highlighting that Georgetown's rates can be relatively high for some homeowners. This variation in tax bills affects homeowners by influencing their overall housing costs and potentially impacting their financial planning and budgeting. Understanding these factors can help homeowners better anticipate and manage their property tax obligations.
Average Georgetown Tax Bill
$1,510
Average Clermont County Tax Bill
$6,844
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Georgetown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45121 | $259 | $1,006 | $1,510 | $2,458 | $4,189 |
Source: Ownwell