Bainbridge, Ohio Property Taxes
The median property tax rate in Bainbridge, Ohio is 1.17%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Bainbridge, the typical annual property tax bill is $393, significantly below the national median of $2,690. Property taxes in Bainbridge 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. Understanding Bainbridge'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 Bainbridge or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bainbridge, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$446
Ownwell’s Bainbridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bainbridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bainbridge 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 Bainbridge, Ohio
Property taxes in Bainbridge, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bainbridge is 1.17%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Bainbridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bainbridge 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 Bainbridge's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45612 zip code has the highest median property tax rate of 1.17%, while the 45612 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Bainbridge provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bainbridge Tax Rate
1.17%
Average Pike County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bainbridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45612 | 0.53% | 1.03% | 1.17% | 1.21% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Bainbridge, Ohio
In Bainbridge, 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 Pike 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 Bainbridge, 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 Bainbridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 45612 at $393, while the lowest is also 45612 at $393.
Average Bainbridge Assessed Value
$38,120
Average Pike County Assessed Value
$47,540
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bainbridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45612 | $2,634 | $10,910 | $38,120 | $97,625 | $182,640 |
Source: Ownwell
Property Tax Bills Across Bainbridge, Ohio
In Bainbridge, OH, property tax bills are calculated based on the assessed value of your home, which is determined by the Pike County Assessor. The assessed value is a percentage of the market value of your property. Various factors, such as property size, location, and condition, influence this assessed value. Once the assessed value is established, the local property tax rate is applied to calculate the annual tax bill. Homeowners in Bainbridge can expect a wide range of property tax bills. For instance, those in the 25th percentile pay around $102 annually, while those in the 75th percentile face bills of approximately $1,064. The 90th percentile sees even higher tax bills, reaching up to $1,999. Compared to the national median property tax rate of 0.99%, Bainbridge's property taxes can vary significantly, impacting homeowners differently based on their property's assessed value. This variation underscores the importance of understanding how local property tax calculations can affect your financial planning.
Average Bainbridge Tax Bill
$393
Average Pike County Tax Bill
$512
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bainbridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45612 | $25 | $102 | $393 | $1,064 | $1,999 |
Source: Ownwell