Piqua, Ohio Property Taxes
The median property tax rate in Piqua, OH is 1.50%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $92,400, the typical annual property tax bill in Piqua amounts to $1,344, falling below the national median of $2,690. Property taxes in Piqua are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Piqua'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 Piqua or another part of the city, grasping the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Piqua, 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 Piqua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Piqua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Piqua 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 Piqua, Ohio
Property taxes in Piqua, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Piqua is 1.50%, notably higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Piqua set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piqua 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 Piqua's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45356 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Piqua provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Piqua Tax Rate
1.50%
Average Shelby County Tax Rate
1.56%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piqua, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45356 | 1.02% | 1.41% | 1.50% | 1.59% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Piqua, Ohio
In Piqua, 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 Shelby 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 Piqua, 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 Piqua helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Piqua is $1,344 in the 45356 zip code, providing a benchmark for what residents might expect.
Average Piqua Assessed Value
$92,400
Average Shelby County Assessed Value
$119,350
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Piqua, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45356 | $5,486 | $29,690 | $92,400 | $188,490 | $283,494 |
Source: Ownwell
Property Tax Bills Across Piqua, Ohio
In Piqua, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The median home price in Piqua stands at $92,400. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors, including property size, location, and market conditions, influence the assessed value. Homeowners in Piqua can expect a wide range of tax bills. The 25th percentile tax bill is $407, while the 75th percentile tax bill reaches $2,762, and the 90th percentile tax bill can climb to $3,535. These figures indicate significant variability in tax burdens across different properties. Comparatively, the highest and lowest median tax bills in Piqua both stand at $1,344, reflecting a consistent median tax burden within the 45356 ZIP code. Understanding these components is crucial for homeowners, as property taxes directly impact overall housing costs and long-term financial planning.
Average Piqua Tax Bill
$1,344
Average Shelby County Tax Bill
$1,867
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Piqua, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45356 | $99 | $407 | $1,344 | $2,762 | $3,535 |
Source: Ownwell