Colerain, Ohio Property Taxes
The median property tax rate in Colerain, OH is 1.34%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Colerain at $75,205, the typical annual property tax bill reaches $1,015, still below the national median of $2,690. Property taxes in Colerain 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 Colerain'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 Colerain 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
Colerain, 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 Colerain Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Colerain. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Colerain to provide an estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making it easier to plan financially. For those interested in more detailed insights, including neighborhood-level trends, additional localized information is available below. Remember, your property's assessed value is determined by the county and includes any applicable exemptions, ensuring an accurate calculation for tax purposes.
Property Tax Rates Across Colerain, Ohio
Property taxes in Colerain, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Colerain is 1.34%, significantly higher than the U.S. national median of 0.99%. Local government entities within Colerain set these rates annually, and they can vary across different neighborhoods. Each year, Colerain 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 Colerain's effective property tax rate to other areas and the national median. For comparison, the zip code 43916 has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these areas compare with Colerain provides valuable insights into the varying tax landscape across Belmont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colerain Tax Rate
1.34%
Average Belmont County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colerain, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43916 | 1.26% | 1.34% | 1.34% | 1.36% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Colerain, Ohio
In Colerain, 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 Belmont 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 Colerain, 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 Colerain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Colerain is 43916, with a median tax bill of $1,015.
Average Colerain Assessed Value
$75,205
Average Belmont County Assessed Value
$74,065
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colerain, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43916 | $38,018 | $56,015 | $75,205 | $110,250 | $188,163 |
Source: Ownwell
Property Tax Bills Across Colerain, Ohio
In Colerain, Belmont County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value, and this value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Colerain, the median home price is $75,205, which provides a foundation for calculating property taxes. The property tax rate in Colerain is influenced by various factors, including local government budgets, school funding, and public services. Homeowners can expect tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $763, while at the 75th percentile, it rises to $1,406, and at the 90th percentile, it reaches $2,267. These taxes fund essential services such as education, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners in Colerain should be aware of these factors as they significantly affect their annual financial obligations.
Average Colerain Tax Bill
$1,015
Average Belmont County Tax Bill
$992
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Colerain, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43916 | $509 | $763 | $1,015 | $1,406 | $2,267 |
Source: Ownwell