Foster City, Ohio Property Taxes
The median property tax rate in Foster City, Ohio is 1.20%, which is higher than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value of $106,850 in Foster City, the typical annual property tax bill is $1,284, surpassing the national median of $2,690. Property taxes in Foster City are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Foster City'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 Foster City 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
Foster City, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,282
Ownwell’s Foster City Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and prospective buyers to estimate their annual property taxes in Foster City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Foster City to provide an estimate of 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 Foster City, Ohio
Property taxes in Foster City, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Foster City is 1.20%, significantly higher than the U.S. national median of 0.99%. Local government entities within Foster City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Foster City 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 Foster City's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 94404 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Foster City 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 Foster City Tax Rate
1.20%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Foster City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94404 | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Foster City, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Foster City, Ohio. 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 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. 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. Foster City’s median home price stands at $106,850, with the median tax bill at $1,284. The highest and lowest median tax bills are both found in the 94404 zip code, each totaling $1,284. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Foster City Assessed Value
$106,850
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 Foster City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94404 | $106,850 | $106,850 | $106,850 | $106,850 | $106,850 |
Source: Ownwell
Property Tax Bills Across Foster City, Ohio
In Foster City, property tax bills are calculated based on the assessed value of a home. The assessed value typically reflects a percentage of the market value, determined by local assessors. In Butler County, where Foster City is located, homeowners face a median property tax bill of $1,284, which is consistent across various percentiles. This amount is derived from the median home price of $106,850 in the area. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. The local tax rate is applied to the assessed value to calculate the annual tax bill. For homeowners, understanding these factors is crucial as property taxes can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, Foster City's tax rate is relatively moderate, providing some relief to homeowners while still contributing to essential public services like schools and infrastructure.
Average Foster City Tax Bill
$1,284
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Foster City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 94404 | $1,284 | $1,284 | $1,284 | $1,284 | $1,284 |
Source: Ownwell