Oxford, Ohio Property Taxes
The median property tax rate in Oxford, OH is 0.99%, aligning with the national median of 0.99% but significantly lower than the Ohio state median of 1.80%. With the median home value in Oxford at $243,320, the typical annual property tax bill reaches $2,407, which is slightly below the national median of $2,690. Property taxes in Oxford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oxford'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 Oxford or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oxford, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$2,409
Ownwell’s Oxford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oxford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oxford 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 Oxford, Ohio
Property taxes in Oxford, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxford is 0.99%, aligning with the U.S. national median of 0.99%. Local government entities within Oxford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxford 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 Oxford's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45056 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with Oxford 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 Oxford Tax Rate
0.99%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oxford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45056 | 0.84% | 0.91% | 0.99% | 1.08% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Oxford, Ohio
In Oxford, 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 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 Oxford, 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 instance, the median home price in Oxford is $243,320, with tax bills ranging from $1,720 at the 25th percentile to $4,420 at the 90th percentile. The zip code 45056 has both the highest and lowest median tax bill, valued at $2,407. By understanding 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 Oxford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oxford Assessed Value
$243,320
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 Oxford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45056 | $114,040 | $177,320 | $243,320 | $337,185 | $438,970 |
Source: Ownwell
Property Tax Bills Across Oxford, Ohio
Property tax bills in Oxford, located in Butler County, OH, are primarily calculated based on the assessed value of a property. The assessed value is typically a percentage of the market value, which is determined by the local tax assessor. Homeowners in Oxford can expect their property tax bills to reflect various factors, including property size, location, and improvements made to the property. The median home price in Oxford is $243,320, and the property tax rate in this area is relatively high compared to the national median property tax rate of 0.99%. For example, the tax bill at the 25th percentile is $1,720, while at the 75th percentile, it rises to $3,262. At the 90th percentile, homeowners might see property tax bills as high as $4,420. The highest and lowest median tax bills in the area are both $2,407, indicating a consistent tax rate across different properties within the same zip code, 45056. These property taxes significantly impact homeowners by influencing their overall housing costs and potentially affecting their ability to afford higher-priced homes.
Average Oxford Tax Bill
$2,407
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Oxford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45056 | $1,088 | $1,720 | $2,407 | $3,262 | $4,420 |
Source: Ownwell