Hillsboro, Ohio Property Taxes
The median property tax rate in Hillsboro, OH is 1.27%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $84,500 in Hillsboro, the typical annual property tax bill comes to $986, which is below the national median of $2,690. Property taxes in Hillsboro are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hillsboro'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 Hillsboro 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
Hillsboro, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Hillsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsboro 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 Hillsboro, Ohio
Property taxes in Hillsboro, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsboro is 1.27%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Hillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsboro 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 Hillsboro's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45133 has both the highest and lowest median property tax rate of 1.27%. Understanding how these areas compare with Hillsboro provides valuable insights into the varying tax landscape across Highland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsboro Tax Rate
1.27%
Average Highland County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45133 | 0.70% | 1.09% | 1.27% | 1.32% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Hillsboro, Ohio
In Hillsboro, 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 Highland 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 Hillsboro, 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 Hillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $986 in the 45133 zip code.
Average Hillsboro Assessed Value
$84,500
Average Highland County Assessed Value
$82,400
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45133 | $10,900 | $30,700 | $84,500 | $149,100 | $233,300 |
Source: Ownwell
Property Tax Bills Across Hillsboro, Ohio
In Hillsboro, located in Highland County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. For instance, the median home price in Hillsboro is $84,500, and the median property tax bill is approximately $986. This is notably higher than the national median property tax rate of 0.99%. Homeowners in Hillsboro can expect to pay between $343 at the 25th percentile and $2,588 at the 90th percentile, depending on their property's assessed value and applicable exemptions. Understanding these calculations helps homeowners anticipate their tax liabilities and plan their finances accordingly. Keeping track of local tax rates and property assessments can also provide opportunities for appealing assessments that seem disproportionate.
Average Hillsboro Tax Bill
$986
Average Highland County Tax Bill
$971
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45133 | $111 | $343 | $986 | $1,732 | $2,588 |
Source: Ownwell