Russellville, Ohio Property Taxes
The median property tax rate in Russellville, OH is 1.20%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Russellville at $89,625, the typical annual property tax bill amounts to $1,085, which is below the national median of $2,690. Property taxes in Russellville are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Russellville'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 Russellville 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
Russellville, 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 Russellville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Russellville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Russellville 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 Russellville, Ohio
Property taxes in Russellville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Russellville is 1.20%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Russellville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Russellville 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 Russellville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45168 zip code has the highest median property tax rate of 1.20%, while the 45168 zip code has the lowest median tax rate of 1.20%. Understanding how these cities compare with Russellville 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 Russellville Tax Rate
1.20%
Average Brown County Tax Rate
1.17%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Russellville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45168 | 0.51% | 0.91% | 1.20% | 1.47% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Russellville, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Russellville, Ohio. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 Russellville, 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. For instance, the median home price in Russellville is $89,625, with tax bills ranging from $588 at the 25th percentile to $2,847 at the 90th percentile. The highest and lowest median tax bills, both at $1,085, are found in the 45168 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Russellville Assessed Value
$89,625
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 Russellville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45168 | $16,760 | $48,368 | $89,625 | $198,072 | $392,954 |
Source: Ownwell
Property Tax Bills Across Russellville, Ohio
In Russellville, located in Brown County, OH, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. Local tax rates are then applied to this assessed value to determine the final tax bill. Several factors influence the tax amount, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Russellville, the median home price stands at $89,625. Tax bills can vary significantly, with the 25th percentile at $588 and the 75th percentile reaching $1,840. The highest median tax bill recorded in the area is $1,085, while the lowest is also $1,085, indicating a uniformity in median tax rates within the zip code 45168. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting homeowners' financial responsibilities and the quality of local amenities.
Average Russellville Tax Bill
$1,085
Average Brown County Tax Bill
$1,244
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Russellville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45168 | $188 | $588 | $1,085 | $1,840 | $2,847 |
Source: Ownwell