Hamilton, Ohio Property Taxes
The median property tax rate in Hamilton, OH is 1.23%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Hamilton at $138,370, the typical annual property tax bill reaches $1,714, still falling below the national median of $2,690. Property taxes in Hamilton 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 Hamilton'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 Hamilton 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
Hamilton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,702
$1,579
Ownwell’s Hamilton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hamilton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hamilton 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 Hamilton, Ohio
Property taxes in Hamilton, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hamilton is 1.23%, higher than the Ohio state median and the U.S. national median of 0.99%. Local government entities within Hamilton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hamilton 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 Hamilton's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45011 zip code has the highest median property tax rate of 1.32%, while the 45013 zip code has the lowest median tax rate of 1.17%. Understanding how these areas compare with Hamilton 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 Hamilton Tax Rate
1.23%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hamilton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | 0.93% | 1.12% | 1.32% | 1.55% | 2.27% |
| 45013 | 0.90% | 1.00% | 1.17% | 1.29% | 1.51% |
| 45015 | 0.94% | 1.21% | 1.27% | 1.36% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Hamilton, Ohio
In Hamilton, 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 Hamilton, 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 the area is $1,987 in the 45013 zip code, while the lowest median tax bill is $1,105 in the 45011 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 Hamilton Assessed Value
$138,370
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 Hamilton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | $26,254 | $43,180 | $78,700 | $138,430 | $278,044 |
| 45013 | $67,688 | $117,072 | $171,585 | $255,545 | $355,093 |
| 45015 | $61,032 | $91,922 | $116,325 | $141,272 | $162,518 |
Source: Ownwell
Property Tax Bills Across Hamilton, Ohio
In Hamilton, property tax bills are calculated based on the assessed value of a home, which is determined by the Butler County Auditor. This assessed value is a percentage of the property's market value. For instance, the median home price in Hamilton is $138,370. Property tax rates are then applied to this assessed value to determine the annual tax bill. Homeowners in Hamilton can expect property tax bills that vary significantly. At the 25th percentile, the tax bill is around $1,077, while at the 75th percentile, it rises to $2,646. The highest median tax bill in the area is $1,987, found in the 45013 zip code, whereas the lowest median tax bill is $1,105 in the 45011 zip code. These taxes fund essential services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Hamilton's property tax rates can significantly impact homeowners' annual expenses, making it crucial for them to understand how their tax bills are calculated and what factors influence them.
Average Hamilton Tax Bill
$1,714
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Hamilton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45011 | $378 | $646 | $1,105 | $2,055 | $3,681 |
| 45013 | $880 | $1,401 | $1,987 | $2,958 | $4,005 |
| 45015 | $784 | $1,146 | $1,460 | $1,836 | $2,185 |
Source: Ownwell