Cincinnati, Ohio Property Taxes
The median property tax rate in Cincinnati, OH is 1.77%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Cincinnati at $252,740, the typical annual property tax bill reaches $4,243, exceeding the national median of $2,690. Property taxes in Cincinnati 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 Cincinnati'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 Cincinnati 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
Cincinnati, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$4,473
Ownwell’s Cincinnati Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cincinnati with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cincinnati 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 Cincinnati, Ohio
Property taxes in Cincinnati, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cincinnati is 1.77%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Cincinnati set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cincinnati 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 Cincinnati's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45249 zip code has the highest median property tax rate of 1.77%, while the 45241 zip code has the lowest median tax rate of 1.74%. Understanding how these cities compare with Cincinnati provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cincinnati Tax Rate
1.77%
Average Warren County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45241 | 1.66% | 1.74% | 1.74% | 1.77% | 1.79% |
| 45249 | 1.60% | 1.62% | 1.77% | 1.78% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Cincinnati, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cincinnati, 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 local 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. Assessment notices in Cincinnati 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. The median home price in Cincinnati is $252,740, with the highest median tax bill of $4,395 in zip code 45249 and the lowest median tax bill of $3,003 in zip code 45241. Being aware of these valuation processes in Cincinnati helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cincinnati Assessed Value
$252,740
Average Warren County Assessed Value
$234,580
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45241 | $112,464 | $144,418 | $170,355 | $301,182 | $387,701 |
| 45249 | $189,552 | $223,480 | $260,030 | $280,510 | $290,028 |
Source: Ownwell
Property Tax Bills Across Cincinnati, Ohio
In Cincinnati, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, determined by the county assessor. Homeowners in Cincinnati, located in Warren County, face property tax bills that reflect various factors, including the median home price, which stands at $252,740. The tax bill can vary significantly across different parts of the city. For instance, the highest median tax bill in Cincinnati is $4,395 in the 45249 zip code, while the lowest is $3,003 in the 45241 zip code. The 25th percentile tax bill is $3,586, and the 75th percentile tax bill is $4,816, with the 90th percentile reaching as high as $5,433. These tax bills are influenced by local tax rates and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Cincinnati homeowners may find their property tax rates and resulting bills to be a significant financial consideration, impacting their overall cost of homeownership.
Average Cincinnati Tax Bill
$4,243
Average Warren County Tax Bill
$3,873
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45241 | $1,724 | $2,513 | $3,003 | $5,368 | $6,466 |
| 45249 | $3,307 | $3,935 | $4,395 | $4,816 | $5,148 |
Source: Ownwell