Fayetteville, Ohio Property Taxes
The median property tax rate in Fayetteville, OH is 1.25%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $134,010 in Fayetteville, the typical annual property tax bill amounts to $1,803, which is below the national median of $2,690. Property taxes in Fayetteville are determined based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Fayetteville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Fayetteville or another part of the city, familiarizing yourself with the local property tax landscape is beneficial.
Last Updated June 14, 2024
Fayetteville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,675
$1,554
Ownwell’s Fayetteville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fayetteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fayetteville 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 Fayetteville, Ohio
Property taxes in Fayetteville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fayetteville is 1.25%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fayetteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fayetteville 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 Fayetteville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45118 zip code has both the highest and lowest median property tax rate of 1.25%. Understanding how these cities compare with Fayetteville 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 Fayetteville Tax Rate
1.25%
Average Brown County Tax Rate
1.17%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fayetteville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | 1.00% | 1.23% | 1.25% | 1.41% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Fayetteville, Ohio
In Fayetteville, 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 Fayetteville, 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 Fayetteville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Fayetteville is $1803.00 in the 45118 zip code.
Average Fayetteville Assessed Value
$134,010
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 Fayetteville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | $33,160 | $84,190 | $134,010 | $231,920 | $349,270 |
Source: Ownwell
Property Tax Bills Across Fayetteville, Ohio
In Fayetteville, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the tax rate set by local government entities. Homeowners in Fayetteville experience a range of property tax bills, with the 25th percentile paying around $1,128 annually, while those in the 75th percentile pay approximately $2,874. The highest tax bills can reach up to $4,165, which significantly impacts homeowners' annual expenses. Factors influencing the tax bill include the home's market value, local tax rates, and any applicable exemptions or deductions. For instance, properties in the zip code 45118 have a median tax bill of $1,803. Compared to the national median property tax rate of 0.99%, Fayetteville's tax rates can vary, affecting homeowners differently based on their property's assessed value. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Fayetteville Tax Bill
$1,803
Average Brown County Tax Bill
$1,244
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fayetteville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | $512 | $1,128 | $1,803 | $2,874 | $4,165 |
Source: Ownwell