Hillsboro, Ohio Property Taxes
The median property tax rate in Hillsboro, OH is 1.14%, moderately higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Hillsboro at $76,010, the typical annual property tax bill amounts to $702, which is significantly below the national median of $2,690. Property taxes in Hillsboro are determined based on the tax assessed value, which generally falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Hillsboro'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 Hillsboro or elsewhere in the city, a thorough grasp of 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 1.14%, which is higher than 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 45133 zip code has both the highest and lowest median property tax rate of 1.14%. Understanding how these cities compare with Hillsboro 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 Hillsboro Tax Rate
1.14%
Average Pike 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 | 0.62% | 0.94% | 1.14% | 1.17% | 1.20% |
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 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 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 median tax bill in the area is $702.00 in zip code 45133, while the lowest median tax bill is also $702.00 in the same zip code.
Average Hillsboro Assessed Value
$76,010
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 Hillsboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45133 | $3,940 | $16,380 | $76,010 | $148,610 | $237,450 |
Source: Ownwell
Property Tax Bills Across Hillsboro, Ohio
Property tax bills in Hillsboro, located in Pike County, OH, are calculated based on the assessed value of a property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $76,010, homeowners can expect varying tax bills depending on the assessed value and specific local rates. Several factors influence the property tax bill, including property size, location, and any applicable exemptions. In Hillsboro, the 25th percentile tax bill is around $167, while the 75th percentile tax bill can reach up to $1,444. At the higher end, the 90th percentile tax bill is approximately $2,201. These tax bills can significantly impact homeowners, affecting monthly budgets and overall affordability. Compared to the national median property tax rate of 0.99%, Hillsboro's tax rates reflect the local economic conditions and municipal funding needs, providing a crucial source of revenue for public services and infrastructure.
Average Hillsboro Tax Bill
$702
Average Pike County Tax Bill
$512
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 | $46 | $167 | $702 | $1,444 | $2,201 |
Source: Ownwell