Bradford, Ohio Property Taxes
The median property tax rate in Bradford, Ohio is 1.33%, higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Bradford, the typical annual property tax bill is $1,315, which is below the national median of $2,690. Property taxes in Bradford 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 Bradford'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 Bradford 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
Bradford, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$1,400
Ownwell’s Bradford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bradford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradford 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 Bradford, Ohio
Property taxes in Bradford, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradford is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bradford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradford 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 Bradford's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45308 has the highest median property tax rate of 1.33%, while the lowest median tax rate is also found in the same zip code at 1.33%. Understanding how these cities compare with Bradford provides valuable insights into the varying tax landscape across Miami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradford Tax Rate
1.33%
Average Miami County Tax Rate
1.33%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45308 | 0.92% | 1.13% | 1.33% | 1.33% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Bradford, Ohio
In Bradford, 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 Miami 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 Bradford, 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. Bradford's median home price stands at $105,300, with median tax bills ranging from $824 at the 25th percentile to $3,102 at the 90th percentile. Notably, the zip code 45308 has both the highest and lowest median tax bill at $1,315. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bradford Assessed Value
$105,300
Average Miami County Assessed Value
$159,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bradford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45308 | $34,300 | $65,350 | $105,300 | $176,200 | $275,720 |
Source: Ownwell
Property Tax Bills Across Bradford, Ohio
In Bradford, property tax bills are calculated based on the assessed value of the home, which is determined by the Miami County assessor. This assessed value is a percentage of the property's market value. Homeowners in Bradford experience property tax rates that can vary significantly. For instance, the 25th percentile tax bill is $824, while the 75th percentile tax bill is $2,064, and the 90th percentile tax bill reaches $3,102. These variations are influenced by multiple factors, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. With the median home price in Bradford being $105,300, the property tax rate in this city is notably higher than the national median property tax rate of 0.99%. For homeowners, this means that property taxes can represent a significant portion of their annual expenses, impacting overall affordability and financial planning.
Average Bradford Tax Bill
$1,315
Average Miami County Tax Bill
$2,118
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45308 | $459 | $824 | $1,315 | $2,064 | $3,102 |
Source: Ownwell