Cincinnati, Ohio Property Taxes
The median property tax rate in Cincinnati, OH is 1.30%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Cincinnati at $59,915, the typical annual property tax bill amounts to $799, noticeably below the national median of $2,690. Property taxes in Cincinnati are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Grasping Cincinnati's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can result in considerable annual savings. Whether you're residing in the bustling heart of Cincinnati or other areas within the city, a thorough understanding of the local property tax system can be highly advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Cincinnati, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$779
Ownwell’s Cincinnati Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cincinnati with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cincinnati 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 Cincinnati, Ohio
Property taxes in Cincinnati, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cincinnati is 1.30%, higher than both the Ohio state median of 1.52% and the U.S. national median of 0.99%. Local government entities within Cincinnati set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cincinnati 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 Cincinnati's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45216 zip code has the highest median property tax rate of 1.37%, while 45226 has the lowest median tax rate of 1.23%. Understanding how these cities compare with Cincinnati provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cincinnati Tax Rate
1.30%
Average Brown County Tax Rate
1.17%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45216 | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% |
| 45226 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Cincinnati, Ohio
In Cincinnati, 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 Brown 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 Cincinnati, 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. For example, the median home price is $59,915, with property tax bills ranging from $373 in zip code 45226 to $1,226 in zip code 45216. 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 Cincinnati helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cincinnati Assessed Value
$59,915
Average Brown County Assessed Value
$109,630
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45216 | $89,490 | $89,490 | $89,490 | $89,490 | $89,490 |
| 45226 | $30,340 | $30,340 | $30,340 | $30,340 | $30,340 |
Source: Ownwell
Property Tax Bills Across Cincinnati, Ohio
In Cincinnati, located in Brown County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Cincinnati is $59,915. Local tax rates are applied to this assessed value to determine the tax bill. Factors such as property location, home improvements, and market trends can influence the assessed value, thereby affecting the tax bill. For instance, in Cincinnati, the 25th percentile of tax bills is $586, while the 75th percentile is $1,012. This variation highlights how different factors impact the final tax amount. The 90th percentile reaches up to $1,140, indicating that some homeowners pay significantly more depending on their property's characteristics. Interestingly, the highest median tax bill in the area is $1,226 in zip code 45216, while the lowest is $373 in zip code 45226. Compared to the national median property tax rate of 0.99%, Cincinnati's tax rates reflect the local economic conditions and housing market dynamics.
Average Cincinnati Tax Bill
$799
Average Brown County Tax Bill
$1,244
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45216 | $1,226 | $1,226 | $1,226 | $1,226 | $1,226 |
| 45226 | $373 | $373 | $373 | $373 | $373 |
Source: Ownwell