Bremen, Ohio Property Taxes
The median property tax rate in Bremen, OH is 1.35%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $148,900 in Bremen, the typical annual property tax bill reaches $2,029, surpassing the national median of $2,690. Property taxes in Bremen are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Bremen'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 Bremen 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
Bremen, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Bremen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bremen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bremen 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 Bremen, Ohio
Property taxes in Bremen, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bremen is 1.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bremen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bremen 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 Bremen's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43107 has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Bremen provides valuable insights into the varying tax landscape across Hocking County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bremen Tax Rate
1.35%
Average Hocking County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43107 | 1.10% | 1.34% | 1.35% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Bremen, Ohio
In Bremen, 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 Hocking 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 Bremen, 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 Bremen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Bremen are both $2029.00, found in the zip code 43107.
Average Bremen Assessed Value
$148,900
Average Hocking County Assessed Value
$109,310
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43107 | $61,176 | $108,308 | $148,900 | $223,572 | $306,919 |
Source: Ownwell
Property Tax Bills Across Bremen, Ohio
In Bremen, located in Hocking County, OH, property tax bills are calculated based on the assessed value of your home, which is determined by local tax assessors. The assessed value is a percentage of the market value of your property. For instance, with a median home price of $148,900, the assessed value is used to calculate the property tax owed by homeowners. Several factors influence the property tax bill, including local tax rates and any applicable exemptions. In Bremen, the median property tax bill stands at $2029.00, which is significantly higher than the national median property tax rate of 0.99%. Homeowners in the 25th percentile pay around $1440, while those in the 75th percentile face bills of approximately $2898. The top 10% of taxpayers see bills as high as $4133. These property tax bills directly impact homeowners by influencing their annual expenses and potentially affecting the affordability of homeownership. Understanding how these taxes are calculated can help residents better manage their finances and plan for future costs.
Average Bremen Tax Bill
$2,029
Average Hocking County Tax Bill
$1,629
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43107 | $1,027 | $1,440 | $2,029 | $2,898 | $4,133 |
Source: Ownwell