Fairfield Twp, Ohio Property Taxes
The median property tax rate in Fairfield Twp, OH is 2.05%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Fairfield Twp, the typical annual property tax bill reaches $105, which, while lower than the national median of $2,690, reflects the local market dynamics. Property taxes in Fairfield Twp are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Fairfield Twp's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Fairfield Twp or another part of Butler County, grasping the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Fairfield Twp, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.05%
Estimate Property Tax Bill
$109
Ownwell’s Fairfield Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairfield Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairfield Township 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 Fairfield Twp, Ohio
Property taxes in Fairfield Township, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfield Township is 2.05%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Fairfield Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfield Township 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 Fairfield Township's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45011 zip code has the highest median property tax rate of 2.05%, while the same 45011 zip code also has the lowest median tax rate of 2.05%. Understanding how these areas compare with Fairfield Township provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairfield Twp Tax Rate
2.05%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairfield Twp, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | 1.99% | 2.01% | 2.05% | 2.11% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield Twp, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fairfield Township, 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 the Butler 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 Fairfield Township, 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 Fairfield Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 45011, both at $105, indicating a consistent tax environment across the township.
Average Fairfield Twp Assessed Value
$5,320
Average Butler County Assessed Value
$217,015
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairfield Twp, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | $5,104 | $5,185 | $5,320 | $5,320 | $5,320 |
Source: Ownwell
Property Tax Bills Across Fairfield Twp, Ohio
In Fairfield Township, Butler County, OH, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. This assessed value is a percentage of your property's market value. The tax rate, often expressed as a millage rate, is then applied to the assessed value to determine the annual tax bill. For instance, with a median home price of $5,320, the tax bills in Fairfield Township vary, with the 25th percentile at $104 and the 90th percentile reaching $113. The highest and lowest median tax bills both stand at $105 in the zip code 45011, reflecting a relatively narrow range in tax liabilities. These property taxes fund essential public services like schools, roads, and emergency services. For homeowners, understanding how these factors come together helps in budgeting for annual expenses and recognizing the value they receive from local government services.
Average Fairfield Twp Tax Bill
$105
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfield Twp, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | $104 | $104 | $105 | $110 | $113 |
Source: Ownwell