Detroit, Ohio Property Taxes
The median property tax rate in Detroit, OH is 2.62%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Detroit at $185,110, the typical annual property tax bill reaches $4,849, far exceeding the national median of $2,690. Property taxes in Detroit are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Detroit'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 Detroit 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
Detroit, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.62%
Estimate Property Tax Bill
$4,850
Ownwell’s Detroit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Detroit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Detroit 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 Detroit, Ohio
Property taxes in Detroit, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Detroit is 2.62%, significantly higher than the U.S. national median of 0.99%. Local government entities within Detroit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Detroit 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 Detroit's effective property tax rate to other counties in Ohio and the national median. For comparison, the 48255 zip code has the highest median property tax rate of 2.62%, while the same zip code also has the lowest median tax rate of 2.62%. Understanding how these cities compare with Detroit provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Detroit Tax Rate
2.62%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Detroit, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48255 | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Detroit, Ohio
In Detroit, 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 Montgomery 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 Detroit, 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 Detroit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 48255, with a tax bill of $4,849, which is also the lowest median tax bill in the area.
Average Detroit Assessed Value
$185,110
Average Montgomery County Assessed Value
$98,910
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Detroit, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48255 | $185,110 | $185,110 | $185,110 | $185,110 | $185,110 |
Source: Ownwell
Property Tax Bills Across Detroit, Ohio
In Detroit, Montgomery County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $185,110, homeowners in Detroit can expect a median property tax bill around $4,849. Factors such as property location, home improvements, and neighborhood amenities can influence the assessed value. Comparatively, Detroit's median property tax rate is significantly higher than the national median property tax rate of 0.99%. This higher tax rate can have a substantial impact on homeowners, potentially making it more challenging to afford homeownership. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and budget accordingly.
Average Detroit Tax Bill
$4,849
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Detroit, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48255 | $4,849 | $4,849 | $4,849 | $4,849 | $4,849 |
Source: Ownwell