Ross, Ohio Property Taxes
The median property tax rate in Ross, OH is 1.60%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Ross at $25,600, the typical annual property tax bill is $410, which is below the national median of $2,690. Property taxes in Ross are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ross's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ross or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ross, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$410
$380
Ownwell’s Ross Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ross with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ross 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 Ross, Ohio
Property taxes in Ross, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Ross is 1.60%, significantly higher than the U.S. national median of 0.99%. Local government entities within Ross set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ross 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 Ross's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45061 zip code has the highest median property tax rate of 1.60%, while the 45061 zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with Ross 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 Ross Tax Rate
1.60%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ross, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45061 | 1.60% | 1.60% | 1.60% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Ross, Ohio
In Ross, 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 Ross, 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 Ross helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 45061, with a tax bill of $410.
Average Ross Assessed Value
$25,600
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 Ross, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45061 | $25,600 | $25,600 | $25,600 | $25,600 | $25,600 |
Source: Ownwell
Property Tax Bills Across Ross, Ohio
In Ross, located in Butler County, OH, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. For homeowners in Ross, the median home price stands at $25,600. The property tax rate in this area is used to calculate the annual tax bill, which can vary across different properties. Several factors influence the final tax bill, including the property's assessed value and the local tax rate. In Ross, the tax bills are relatively consistent, with the 25th, 75th, and 90th percentiles all at $410. This uniformity suggests a stable tax environment for homeowners. Compared to the national median property tax rate of 0.99%, Ross offers a more predictable and potentially lower tax burden, making it an attractive location for property owners. The stability in tax bills can provide financial predictability, allowing homeowners to plan their budgets more effectively.
Average Ross Tax Bill
$410
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Ross, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45061 | $410 | $410 | $410 | $410 | $410 |
Source: Ownwell