Mount Orab, Ohio Property Taxes
The median property tax rate in Mount Orab, OH is 1.07%, slightly higher than the national median of 0.99% but significantly lower than Ohio's state median of 1.80%. With the median home value in Mount Orab at $122,260, the typical annual property tax bill reaches $1,302, which is below the national median of $2,690. Property taxes in Mount Orab are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Mount Orab's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mount Orab or another part of Brown County, getting familiar with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Orab, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,308
Ownwell’s Mount Orab Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mount Orab with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Orab to provide an estimated 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 Mount Orab, Ohio
Property taxes in Mount Orab, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Orab is 1.07%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mount Orab set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Orab 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 Mount Orab's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45154 zip code has the highest median property tax rate of 1.07%, while the 45154 zip code has the lowest median tax rate of 1.07%. Understanding how these cities compare with Mount Orab 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 Mount Orab Tax Rate
1.07%
Average Brown County Tax Rate
1.17%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Orab, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45154 | 0.84% | 1.05% | 1.07% | 1.19% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Mount Orab, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mount Orab, Ohio. 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 local appraisal authorities 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 Mount Orab, 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 Mount Orab 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 both stand at $1,302 in the 45154 zip code.
Average Mount Orab Assessed Value
$122,260
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 Mount Orab, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45154 | $35,640 | $78,190 | $122,260 | $165,910 | $235,646 |
Source: Ownwell
Property Tax Bills Across Mount Orab, Ohio
In MOUNT ORAB, 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 local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and any applicable exemptions or deductions play a significant role in the final calculation. For instance, with a median home price of $122,260 in MOUNT ORAB, homeowners might see a median tax bill around $1,302, which is slightly above the national median property tax rate of 0.99%. Property taxes can vary widely; the 25th percentile tax bill is approximately $834, while the 75th percentile reaches about $1,879, and the 90th percentile can go up to $2,552. These taxes directly impact homeowners by influencing monthly mortgage payments and overall housing affordability. Higher property taxes can lead to increased financial strain, whereas lower taxes can make homeownership more accessible and affordable.
Average Mount Orab Tax Bill
$1,302
Average Brown County Tax Bill
$1,244
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Orab, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45154 | $362 | $834 | $1,302 | $1,879 | $2,552 |
Source: Ownwell