Bloomingburg, Ohio Property Taxes
The median property tax rate in Bloomingburg, OH is 1.53%, which is 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 Bloomingburg at $95,400, the typical annual property tax bill reaches $1,540, falling below the national median of $2,690. Property taxes in Bloomingburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bloomingburg'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 Bloomingburg 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
Bloomingburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$1,460
Ownwell’s BLOOMINGBURG Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BLOOMINGBURG with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BLOOMINGBURG 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 Bloomingburg, Ohio
Property taxes in Bloomingburg, Ohio, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Bloomingburg is 1.53%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Bloomingburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomingburg 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 Bloomingburg's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43106 zip code has the highest median property tax rate of 1.53%, while the same 43106 zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Bloomingburg provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomingburg Tax Rate
1.53%
Average Fayette County Tax Rate
1.38%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bloomingburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43106 | 0.87% | 1.36% | 1.53% | 1.66% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Bloomingburg, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bloomingburg, Ohio. 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 Fayette 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 Bloomingburg, 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 Bloomingburg 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 $1,540, found in the 43106 zip code.
Average Bloomingburg Assessed Value
$95,400
Average Fayette County Assessed Value
$107,500
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bloomingburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43106 | $34,940 | $62,400 | $95,400 | $146,100 | $326,220 |
Source: Ownwell
Property Tax Bills Across Bloomingburg, Ohio
In Bloomingburg, located in Fayette County, OH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Bloomingburg stands at $95,400. Homeowners can expect a range of property tax bills, with the 25th percentile at $914, the 75th percentile at $2,157, and the 90th percentile reaching up to $3,606. These figures illustrate the variability in tax burdens, influenced by factors such as property value and applicable exemptions. The local tax rate is applied to the assessed value of the property, which is typically a percentage of the market value. Compared to the national median property tax rate of 0.99%, the tax rates in Bloomingburg can significantly impact homeowners, especially those with higher-valued properties. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Bloomingburg Tax Bill
$1,540
Average Fayette County Tax Bill
$1,527
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomingburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43106 | $467 | $914 | $1,540 | $2,157 | $3,606 |
Source: Ownwell