Buffalo, Ohio Property Taxes
The median property tax rate in Buffalo, Ohio is 1.47%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $32,420 in Buffalo, the typical annual property tax bill amounts to $402, which is significantly less than the national median of $2,690. Property taxes in Buffalo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Buffalo'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 Buffalo 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
Buffalo, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$477
Ownwell’s Buffalo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buffalo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buffalo 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 Buffalo, Ohio
Property taxes in Buffalo, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buffalo is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Buffalo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buffalo 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 Buffalo's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43722 has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these figures compare with Buffalo provides valuable insights into the varying tax landscape across Guernsey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buffalo Tax Rate
1.47%
Average Guernsey County Tax Rate
1.49%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buffalo, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43722 | 0.76% | 1.44% | 1.47% | 1.50% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Buffalo, Ohio
In Buffalo, 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 Guernsey 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 Buffalo, 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. The median home price in Buffalo is $32,420, with tax bills ranging from $148 at the 25th percentile to $1,020 at the 90th percentile. The highest median tax bill is $402 in the 43722 zip code, which also has the lowest median tax bill of $402. 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 Buffalo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Buffalo Assessed Value
$32,420
Average Guernsey County Assessed Value
$64,830
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buffalo, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43722 | $6,420 | $13,570 | $32,420 | $49,145 | $71,300 |
Source: Ownwell
Property Tax Bills Across Buffalo, Ohio
In Buffalo, located in Guernsey County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Buffalo can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $148 and the 75th percentile at $659. At the higher end, the 90th percentile tax bill reaches $1020. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, properties in the zip code 43722 have a median tax bill of $402, which is consistent across the area. Compared to the national median property tax rate of 0.99%, Buffalo's tax rates can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors can help homeowners manage their finances better and anticipate their annual property tax obligations.
Average Buffalo Tax Bill
$402
Average Guernsey County Tax Bill
$953
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Buffalo, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43722 | $77 | $148 | $402 | $659 | $1,020 |
Source: Ownwell