New Bremen, Ohio Property Taxes
The median property tax rate in New Bremen, OH is 1.95%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in New Bremen at $194,480, the typical annual property tax bill reaches $3,696, exceeding the national median of $2,690. Property taxes in New 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 New 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 New Bremen 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
New Bremen, 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 New Bremen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Bremen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New 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 New Bremen, Ohio
Property taxes in New Bremen, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Bremen is 1.95%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within New Bremen set these rates annually, and they can vary significantly across different neighborhoods. Each year, New 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 New Bremen's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45869 zip code has both the highest and lowest median property tax rate of 1.95%. Understanding how these cities compare with New Bremen provides valuable insights into the varying tax landscape across Auglaize County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Bremen Tax Rate
1.95%
Average Auglaize County Tax Rate
1.86%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45869 | 1.76% | 1.83% | 1.95% | 2.14% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across New Bremen, Ohio
In New Bremen, 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 Auglaize 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. Assessment notices in New Bremen 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 New Bremen 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 $3,696, found in zip code 45869.
Average New Bremen Assessed Value
$194,480
Average Auglaize County Assessed Value
$135,635
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45869 | $33,168 | $137,095 | $194,480 | $273,450 | $392,592 |
Source: Ownwell
Property Tax Bills Across New Bremen, Ohio
In New Bremen, located in Auglaize County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor, who evaluates the property's market value and then applies an assessment ratio. Typically, the assessment ratio in Ohio is 35% of the market value. For instance, a home with a market value of $194,480 would have an assessed value of $68,068. The property tax rate is then applied to this assessed value to calculate the tax bill. Factors such as local tax levies, school district funding, and municipal services also play a significant role in determining the final tax amount. Homeowners in New Bremen can expect a range of tax bills, with the 25th percentile at $2,593 and the 75th percentile at $5,461. The national median property tax rate is 0.99%, making New Bremen's taxes relatively significant compared to other regions. This can impact homeowners by influencing their overall cost of living and the affordability of homeownership in the area.
Average New Bremen Tax Bill
$3,696
Average Auglaize County Tax Bill
$2,263
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Bremen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45869 | $748 | $2,593 | $3,696 | $5,461 | $7,851 |
Source: Ownwell