Hamilton, Ohio Property Taxes
The median property tax rate in Hamilton, OH is 1.75%, slightly lower than the Ohio state median of 1.80% but still considerably higher than the national median of 0.99%. With the median home value in Hamilton at $168,550, the typical annual property tax bill reaches $2,820, surpassing the national median of $2,690. Property taxes in Hamilton 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 Hamilton'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 Hamilton 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
Hamilton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$2,950
Ownwell’s Hamilton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hamilton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hamilton 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 Hamilton, Ohio
Property taxes in Hamilton, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hamilton is 1.75%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Hamilton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hamilton 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 Hamilton's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45025 zip code has the highest median property tax rate of 2.50%, while the 45013 zip code has the lowest median tax rate of 1.71%. Understanding how these cities compare with Hamilton 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 Hamilton Tax Rate
1.75%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hamilton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45013 | 1.45% | 1.64% | 1.71% | 1.75% | 1.77% |
| 45020 | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% |
| 45025 | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
| 45026 | 2.47% | 2.47% | 2.47% | 2.47% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across Hamilton, Ohio
In Hamilton, 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. 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. In Hamilton, the zip code with the highest median tax bill is 45026, with a bill of $5,838.00, while the lowest median tax bill is found in zip code 45025, at $766.00. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hamilton Assessed Value
$168,550
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 Hamilton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45013 | $125,476 | $143,898 | $163,760 | $234,872 | $323,722 |
| 45020 | $182,000 | $182,000 | $182,000 | $182,000 | $182,000 |
| 45025 | $30,560 | $30,560 | $30,560 | $30,560 | $30,560 |
| 45026 | $236,760 | $236,760 | $236,760 | $236,760 | $236,760 |
Source: Ownwell
Property Tax Bills Across Hamilton, Ohio
In Hamilton, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Hamilton is $168,550. Factors such as the property's location, size, and any applicable exemptions can influence the assessed value. Homeowners in Hamilton experience a range of property tax bills. The 25th percentile tax bill is $2,461, while the 75th percentile tax bill reaches $5,085. At the higher end, the 90th percentile tax bill is $5,764. Comparatively, the national median property tax rate is 0.99%, highlighting Hamilton's varied tax landscape. The highest median tax bill in the area is $5,838 in zip code 45026, whereas the lowest median tax bill is $766 in zip code 45025. These variations significantly impact homeowners, influencing their financial planning and home affordability.
Average Hamilton Tax Bill
$2,820
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Hamilton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45013 | $1,753 | $2,476 | $2,750 | $3,708 | $5,651 |
| 45020 | $4,533 | $4,533 | $4,533 | $4,533 | $4,533 |
| 45025 | $766 | $766 | $766 | $766 | $766 |
| 45026 | $5,838 | $5,838 | $5,838 | $5,838 | $5,838 |
Source: Ownwell