Fairfield, Ohio Property Taxes
The median property tax rate in Fairfield, OH is 1.10%, 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 Fairfield at $222,890, the typical annual property tax bill reaches $2,380, which is below the national median of $2,690. Property taxes in Fairfield are calculated based on the tax assessed value, often lower than market value due to exemptions such as primary residence and agricultural exemptions. Understanding Fairfield'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 Fairfield 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
Fairfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$2,452
$2,275
Ownwell’s Fairfield Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fairfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairfield to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available by scrolling down. Your property’s assessed value is the figure assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Fairfield, Ohio
Property taxes in Fairfield, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfield is 1.10%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fairfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfield 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 Fairfield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45014 zip code has the highest median property tax rate of 1.10%, while the 45011 zip code has the lowest median tax rate of 1.04%. Understanding how these cities compare with Fairfield 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 Fairfield Tax Rate
1.10%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | 0.99% | 1.02% | 1.04% | 1.11% | 1.21% |
| 45014 | 0.92% | 1.02% | 1.10% | 1.16% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield, Ohio
In Fairfield, 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. 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. For instance, the highest median tax bill in Fairfield is $3,353 in the 45011 zip code, while the lowest is $2,371 in the 45014 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairfield Assessed Value
$222,890
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 Fairfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | $275,740 | $298,670 | $314,620 | $332,430 | $356,968 |
| 45014 | $96,672 | $156,560 | $222,225 | $271,072 | $325,094 |
Source: Ownwell
Property Tax Bills Across Fairfield, Ohio
In Fairfield, located in Butler County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Several factors influence this calculation, including the home's location, size, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the property tax bill. Homeowners in Fairfield experience varying property tax bills. For instance, the 25th percentile tax bill is around $1,730, while the 75th percentile reaches approximately $2,983. At the higher end, the 90th percentile tax bill can be as much as $3,643. These figures highlight the range of property tax burdens within the area. Comparatively, Fairfield's property tax rates can be higher than the national median property tax rate of 0.99%, which can impact homeowners' financial planning and overall housing costs. Understanding these factors helps homeowners anticipate their potential property tax liabilities and manage their finances accordingly.
Average Fairfield Tax Bill
$2,380
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | $2,782 | $3,082 | $3,353 | $3,557 | $3,792 |
| 45014 | $1,048 | $1,724 | $2,371 | $2,967 | $3,638 |
Source: Ownwell