Overpeck, Ohio Property Taxes
The median property tax rate in Overpeck, OH is 1.20%, 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 Overpeck at $91,965, the typical annual property tax bill reaches $1,024, exceeding the national median of $2,690. Property taxes in Overpeck 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 Overpeck'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 Overpeck 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
Overpeck, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,104
$1,024
Ownwell’s Overpeck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Overpeck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Overpeck 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 Overpeck, Ohio
Property taxes in Overpeck, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Overpeck is 1.20%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Overpeck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Overpeck 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 Overpeck's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45055 zip code has both the highest and lowest median property tax rate of 1.20%. Understanding how these cities compare with Overpeck 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 Overpeck 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 Overpeck, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45055 | 0.86% | 0.97% | 1.20% | 1.49% | 2.50% |
Source: Ownwell
Property Tax Assessment Values Across Overpeck, Ohio
In Overpeck, 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 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. In Overpeck, 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. Being aware of these valuation processes in Overpeck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 45055 has both the highest and lowest median tax bill, which is $1024.
Average Overpeck Assessed Value
$91,965
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 Overpeck, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45055 | $19,095 | $78,362 | $91,965 | $120,658 | $148,049 |
Source: Ownwell
Property Tax Bills Across Overpeck, Ohio
In Overpeck, located in Butler County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county's appraisal district. The assessed value is typically a percentage of the property's market value. Homeowners in Overpeck face varying tax bills depending on their property's assessed value and the local tax rate. For instance, the median home price in Overpeck is $91,965, resulting in a range of property tax bills. At the 25th percentile, homeowners can expect to pay around $863, while those at the 75th percentile might see bills of approximately $1,498. The tax bill can reach up to $2,567 at the 90th percentile. These property tax bills impact homeowners by influencing their annual financial planning and potentially affecting property values. Compared to the national median property tax rate of 0.99%, Overpeck's rates can vary, offering a unique perspective on local tax burdens. Understanding these factors helps homeowners manage their expenses and plan for the future.
Average Overpeck Tax Bill
$1,024
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Overpeck, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45055 | $274 | $863 | $1,024 | $1,498 | $2,567 |
Source: Ownwell