Cincinnati, Ohio Property Taxes
The median property tax rate in Cincinnati, OH is 1.16%, slightly higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $230,040 in Cincinnati, the typical annual property tax bill is around $2,560, which is just under the national median of $2,690. Property taxes in Cincinnati are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Cincinnati’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 Cincinnati 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
Cincinnati, 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 Cincinnati Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cincinnati with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cincinnati 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 Cincinnati, Ohio
Property taxes in Cincinnati, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cincinnati is 1.16%, higher than both the Ohio state median of 1.52% and the U.S. national median of 0.99%. Local government entities within Cincinnati set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cincinnati 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 Cincinnati's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45246 zip code has the highest median property tax rate of 1.47%, while 45254 has the lowest median tax rate of 0.45%. Understanding how these cities compare with Cincinnati provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cincinnati Tax Rate
1.16%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45202 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
| 45230 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
| 45241 | 0.87% | 1.02% | 1.15% | 1.20% | 1.37% |
| 45242 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
| 45246 | 0.97% | 1.33% | 1.47% | 1.51% | 1.61% |
| 45251 | 1.09% | 1.22% | 1.44% | 1.66% | 1.80% |
| 45254 | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Cincinnati, Ohio
In Cincinnati, 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 Butler County Auditor 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 Cincinnati, 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 highest median tax bill in the area is $3,860 in the 45230 zip code, while the lowest is $286 in the 45254 zip code. 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 Cincinnati helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cincinnati Assessed Value
$230,040
Average Butler County Assessed Value
$217,015
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45202 | $69,640 | $69,640 | $69,640 | $69,640 | $69,640 |
| 45230 | $337,300 | $337,300 | $337,300 | $337,300 | $337,300 |
| 45241 | $158,192 | $178,590 | $246,410 | $422,240 | $478,932 |
| 45242 | $80,270 | $80,270 | $80,270 | $80,270 | $80,270 |
| 45246 | $76,800 | $81,480 | $86,670 | $86,670 | $86,825 |
| 45251 | $25,691 | $44,368 | $75,495 | $106,622 | $125,299 |
| 45254 | $64,050 | $64,050 | $64,050 | $64,050 | $64,050 |
Source: Ownwell
Property Tax Bills Across Cincinnati, Ohio
In Cincinnati, located in Butler 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 typically a percentage of the market value of the property. Homeowners in Cincinnati face a range of property tax bills depending on various factors such as the specific zip code they reside in and the assessed value of their property. For instance, the median home price in Cincinnati is $230,040, and property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $1,640, while those at the 75th percentile could see bills as high as $4,995. The 90th percentile tax bill can reach up to $5,681. The highest median tax bill in the city is $3,860 in the 45230 zip code, whereas the lowest is $286 in the 45254 zip code. These property taxes contribute to local services and infrastructure, impacting homeowners' finances and the overall cost of living in the area.
Average Cincinnati Tax Bill
$2,560
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45202 | $630 | $630 | $630 | $630 | $630 |
| 45230 | $3,860 | $3,860 | $3,860 | $3,860 | $3,860 |
| 45241 | $1,454 | $1,742 | $2,819 | $5,092 | $5,714 |
| 45242 | $1,143 | $1,143 | $1,143 | $1,143 | $1,143 |
| 45246 | $762 | $1,143 | $1,251 | $1,302 | $1,453 |
| 45251 | $362 | $531 | $812 | $1,092 | $1,261 |
| 45254 | $286 | $286 | $286 | $286 | $286 |
Source: Ownwell