Bremen, Ohio Property Taxes
The median property tax rate in Bremen, OH is 1.37%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Bremen at $149,470, the typical annual property tax bill reaches $1,935, falling below the national median of $2,690. Property taxes in Bremen 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 Bremen'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 Bremen or another part of Fairfield County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bremen, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$2,048
Ownwell’s Bremen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bremen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bremen 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 Bremen, Ohio
Property taxes in Bremen, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bremen is 1.37%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Bremen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bremen 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 Bremen's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43107 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Bremen provides valuable insights into the varying tax landscape across Fairfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bremen Tax Rate
1.37%
Average Fairfield County Tax Rate
1.37%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43107 | 1.08% | 1.35% | 1.37% | 1.40% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Bremen, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bremen, 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 Fairfield 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 Bremen, 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 is $149,470, with tax bills ranging from $1,340 at the 25th percentile to $3,741 at the 90th percentile. The highest and lowest median tax bill in the area is $1,935, found in zip code 43107. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bremen Assessed Value
$149,470
Average Fairfield County Assessed Value
$224,580
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43107 | $31,565 | $104,992 | $149,470 | $205,180 | $283,128 |
Source: Ownwell
Property Tax Bills Across Bremen, Ohio
In Bremen, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Fairfield County Assessor's office, which evaluates the market value of properties periodically. Homeowners in Bremen typically face a median property tax rate of 0.99%, aligning with the national median rate. Several factors influence the final tax bill, including the property's assessed value, local levies, and any applicable exemptions. For instance, a median home price in Bremen is $149,470, leading to tax bills that range significantly. The 25th percentile tax bill is about $1,340, while the 75th percentile reaches $2,649, and the 90th percentile can go up to $3,741. These property taxes directly impact homeowners by influencing their annual expenses, potentially affecting their financial planning and home affordability. Higher property taxes can lead to increased monthly mortgage payments if taxes are escrowed, while lower taxes can provide some financial relief.
Average Bremen Tax Bill
$1,935
Average Fairfield County Tax Bill
$2,962
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43107 | $410 | $1,340 | $1,935 | $2,649 | $3,741 |
Source: Ownwell