Fairfield Township, Ohio Property Taxes
The median property tax rate in Fairfield Township, OH is 1.25%, which is 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 Fairfield Township at $280,440, the typical annual property tax bill reaches $3,543, significantly exceeding the national median of $2,690. Property taxes in Fairfield Township 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 Fairfield Township'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 Township 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 Township, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$3,506
Ownwell’s Fairfield Township Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fairfield Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairfield Township 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 Fairfield Township, Ohio
Property taxes in Fairfield Township, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfield Township is 1.25%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fairfield Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfield Township 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 Township's effective property tax rate to other areas in Butler County and the national median. For comparison, the 45013 zip code has the highest median property tax rate of 1.58%, while the 45015 zip code has the lowest median tax rate of 1.11%. Understanding how these areas compare with Fairfield Township 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 Township Tax Rate
1.25%
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 Township, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | 1.10% | 1.19% | 1.25% | 1.34% | 1.44% |
| 45013 | 1.13% | 1.30% | 1.58% | 1.86% | 2.03% |
| 45014 | 0.99% | 1.09% | 1.18% | 1.23% | 1.26% |
| 45015 | 0.72% | 1.02% | 1.11% | 1.18% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield Township, Ohio
In Fairfield Township, 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 Fairfield Township, 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. The median home price in Fairfield Township is $280,440. The tax bills vary significantly, with the highest median tax bill being $3,623 in zip code 45011 and the lowest median tax bill at $1,082 in zip code 45015. 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 Fairfield Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairfield Township Assessed Value
$280,440
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 Township, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | $160,865 | $241,880 | $286,365 | $338,488 | $392,945 |
| 45013 | $55,151 | $130,138 | $255,115 | $380,092 | $455,079 |
| 45014 | $177,917 | $236,328 | $308,025 | $390,922 | $448,603 |
| 45015 | $72,745 | $84,620 | $99,325 | $115,875 | $146,040 |
Source: Ownwell
Property Tax Bills Across Fairfield Township, Ohio
In Fairfield Township, Butler County, OH, property tax bills are calculated based on the assessed value of the property. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's market value, location, and any applicable exemptions or abatements influence the assessed value. For example, the median home price in Fairfield Township is $280,440, and the median property tax bill is significantly influenced by this valuation. Homeowners in Fairfield Township experience a range of tax bills. The 25th percentile of tax bills is $2,928, while the 75th percentile reaches $4,196, and the 90th percentile can be as high as $4,965. This variability reflects differences in property values and specific exemptions. The highest median tax bill in the area is $3,623 in the 45011 zip code, whereas the lowest is $1,082 in the 45015 zip code. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the community and homeowners' cost of living.
Average Fairfield Township Tax Bill
$3,543
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 Township, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | $2,443 | $3,078 | $3,623 | $4,245 | $5,011 |
| 45013 | $614 | $1,370 | $2,629 | $3,888 | $4,644 |
| 45014 | $2,048 | $2,694 | $3,443 | $4,450 | $5,426 |
| 45015 | $643 | $877 | $1,082 | $1,334 | $2,303 |
Source: Ownwell