Kings Mills, Ohio Property Taxes
The median property tax rate in Kings Mills, OH is 2.01%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value of $255,380 in Kings Mills, the typical annual property tax bill reaches $5,097, surpassing the national median of $2,690. Property taxes in Kings Mills 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 Kings Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Kings Mills or another part of Warren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kings Mills, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.01%
Estimate Property Tax Bill
$5,133
Ownwell’s Kings Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kings Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kings Mills 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 Kings Mills, Ohio
Property taxes in Kings Mills, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kings Mills is 2.01%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Kings Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kings Mills 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 Kings Mills' effective property tax rate to other counties in Ohio and the national median. For comparison, the 45034 zip code has the highest median property tax rate of 2.01%, while the 45034 zip code also has the lowest median tax rate of 2.01%. Understanding how these cities compare with Kings Mills provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kings Mills Tax Rate
2.01%
Average Warren County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kings Mills, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45034 | 1.86% | 1.99% | 2.01% | 2.02% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Kings Mills, Ohio
In Kings Mills, 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 Warren County Auditor 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 Kings Mills, 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 Kings Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $5,097, found in zip code 45034.
Average Kings Mills Assessed Value
$255,380
Average Warren County Assessed Value
$234,580
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kings Mills, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45034 | $128,501 | $172,968 | $255,380 | $319,432 | $391,794 |
Source: Ownwell
Property Tax Bills Across Kings Mills, Ohio
In Kings Mills, located in Warren County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The tax rate, applied to this assessed value, determines the amount homeowners owe. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Kings Mills is $255,380, and property tax bills can vary widely. At the 25th percentile, homeowners might pay around $3,411, while those at the 75th percentile could see bills as high as $6,393. The 90th percentile reaches up to $7,801. These figures highlight the variability in tax obligations, significantly impacting homeowners' financial planning. Compared to the national median property tax rate of 0.99%, the rates in Kings Mills can result in substantial differences in annual tax bills, emphasizing the importance of understanding local tax assessments and their implications.
Average Kings Mills Tax Bill
$5,097
Average Warren County Tax Bill
$3,873
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Kings Mills, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45034 | $2,496 | $3,411 | $5,097 | $6,393 | $7,801 |
Source: Ownwell