Fort Worth, Ohio Property Taxes
The median property tax rate in Fort Worth, OH is 2.62%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Fort Worth, the typical annual property tax bill reaches $91, exceeding the national median of $2,690. Property taxes in Fort Worth 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 Fort Worth'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 Fort Worth 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
Fort Worth, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.62%
Estimate Property Tax Bill
$91
Ownwell’s Fort Worth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Worth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Worth 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 Fort Worth, Ohio
Property taxes in Fort Worth, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Worth is 2.62%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fort Worth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Worth 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 Fort Worth's effective property tax rate to other counties in Ohio and the national median. For comparison, the 76107 zip code has the highest median property tax rate of 2.62%, while the same 76107 zip code also has the lowest median tax rate of 2.62%. Understanding how these cities compare with Fort Worth provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Worth Tax Rate
2.62%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Worth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76107 | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Fort Worth, Ohio
In Fort Worth, 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 Hamilton 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 Fort Worth, 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. For instance, the median home price in Fort Worth is $3,470, with tax bills ranging significantly. Understanding these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fort Worth Assessed Value
$3,470
Average Hamilton County Assessed Value
$139,190
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Worth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76107 | $3,470 | $3,470 | $3,470 | $3,470 | $3,470 |
Source: Ownwell
Property Tax Bills Across Fort Worth, Ohio
In Fort Worth, Hamilton County, Ohio, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the market value of the home. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable properties in the area. For homeowners in Fort Worth, the median home price is $3,470, and the tax bill at the 25th, 75th, and 90th percentiles is consistently $91. This suggests a relatively flat tax rate across different property values. Compared to the national median property tax rate of 0.99%, homeowners in Fort Worth might find their property tax bills to be quite manageable. Understanding these factors helps homeowners anticipate their tax responsibilities and budget accordingly.
Average Fort Worth Tax Bill
$91
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Worth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76107 | $91 | $91 | $91 | $91 | $91 |
Source: Ownwell