Decatur, Ohio Property Taxes
The median property tax rate in Decatur, OH is 1.32%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Decatur, the typical annual property tax bill reaches $655, significantly below the national median of $2,690. Property taxes in Decatur 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 Decatur'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 Decatur or another part of Brown County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Decatur, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$648
Ownwell’s Decatur Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Decatur with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Decatur to provide an estimated tax bill. This tool offers insight into potential tax liabilities, helping you make informed financial decisions. For those interested in more localized trends, additional neighborhood-specific information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Decatur, Ohio
Property taxes in Decatur, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Decatur is 1.32%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Decatur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Decatur 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 Decatur's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45115 zip code has the highest median property tax rate of 1.32%, while the 45115 zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Decatur provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Decatur Tax Rate
1.32%
Average Brown County Tax Rate
1.17%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Decatur, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45115 | 1.29% | 1.29% | 1.32% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Decatur, Ohio
In Decatur, 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 Brown 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 Decatur, 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. The zip code with the highest median tax bill is 45115, with a median tax bill of $655. Being aware of these valuation processes in Decatur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Decatur Assessed Value
$49,110
Average Brown County Assessed Value
$109,630
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Decatur, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45115 | $30,984 | $39,850 | $49,110 | $53,900 | $72,384 |
Source: Ownwell
Property Tax Bills Across Decatur, Ohio
In Decatur, located in Brown County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Homeowners in Decatur can expect their tax bills to vary depending on the value of their property. For instance, the median home price in Decatur is $49,110, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. For example, the 25th percentile of tax bills in Decatur is $584, while the 75th percentile is $758, and the 90th percentile reaches $952. These figures illustrate the range of tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, Decatur's property tax rates can be relatively moderate, providing some financial relief to homeowners in the area.
Average Decatur Tax Bill
$655
Average Brown County Tax Bill
$1,244
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Decatur, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45115 | $510 | $584 | $655 | $758 | $952 |
Source: Ownwell