Union, Ohio Property Taxes
The median property tax rate in Union, OH is 2.88%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Union at $166,690, the typical annual property tax bill reaches $4,739, exceeding the national median of $2,690. Property taxes in Union 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 Union'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 Union 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
Union, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.88%
Estimate Property Tax Bill
$4,801
Ownwell’s UNION Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in UNION with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UNION 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 Union, Ohio
Property taxes in Union, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union is 1.30%, which is higher than the Ohio state median of 1.58% but still above the U.S. national median of 0.99%. Local government entities within Union set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union 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 Union's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45322 zip code has the highest median property tax rate of 3.08%, while the 45377 zip code has the lowest median tax rate of 2.87%. Understanding how these cities compare with Union 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 Union Tax Rate
2.88%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45322 | 2.42% | 2.92% | 3.08% | 3.14% | 3.15% |
| 45377 | 2.71% | 2.87% | 2.87% | 2.88% | 2.89% |
Source: Ownwell
Property Tax Assessment Values Across Union, Ohio
In Union, 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 Union, 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. The zip code with the highest median tax bill is 45377 at $6,249, while the lowest is 45322 at $3,310. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Union Assessed Value
$166,690
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 Union, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45322 | $74,165 | $90,352 | $110,160 | $134,240 | $171,797 |
| 45377 | $150,815 | $181,152 | $217,655 | $259,490 | $294,075 |
Source: Ownwell
Property Tax Bills Across Union, Ohio
In Union, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions or deductions. For homeowners in Union, the median home price is $166,690. The tax bill can vary significantly, with the 25th percentile at $3,241 and the 75th percentile reaching $6,500. The 90th percentile tax bill can go up to $7,695. In comparison, the highest median tax bill in Montgomery County is $6,249 in the 45377 zip code, while the lowest is $3,310 in the 45322 zip code. Understanding these variables is crucial for homeowners, as property taxes directly impact the overall cost of owning a home in Union. By staying informed, homeowners can better anticipate their financial obligations and plan accordingly.
Average Union Tax Bill
$4,739
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Union, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45322 | $2,118 | $2,548 | $3,310 | $4,199 | $5,056 |
| 45377 | $3,884 | $5,060 | $6,249 | $7,450 | $8,394 |
Source: Ownwell