Cincinnati, Ohio Property Taxes
The median property tax rate in Cincinnati, OH is 4.83%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Cincinnati at $144,900, the typical annual property tax bill reaches $7,252, exceeding the national median of $2,690. Property taxes in Cincinnati 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 Cincinnati'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 Cincinnati 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
Cincinnati, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.83%
Estimate Property Tax Bill
$6,999
Ownwell’s Cincinnati Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cincinnati with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cincinnati 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 Cincinnati, Ohio
Property taxes in Cincinnati, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cincinnati is 4.83%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Cincinnati set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cincinnati 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 Cincinnati's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45244 zip code has the highest median property tax rate of 4.91%, while the 45215 zip code has the lowest median tax rate of 3.64%. Understanding how these cities compare with Cincinnati provides valuable insights into the varying tax landscape across Clermont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cincinnati Tax Rate
4.83%
Average Clermont County Tax Rate
4.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45204 | 4.15% | 4.15% | 4.15% | 4.15% | 4.15% |
| 45215 | 2.75% | 3.09% | 3.64% | 4.19% | 4.53% |
| 45241 | 4.74% | 4.74% | 4.74% | 4.74% | 4.74% |
| 45244 | 4.38% | 4.63% | 4.91% | 5.78% | 6.35% |
| 45245 | N/A | N/A | N/A | N/A | N/A |
| 45255 | 4.20% | 4.35% | 4.64% | 5.02% | 5.21% |
Source: Ownwell
Property Tax Assessment Values Across Cincinnati, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cincinnati, 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 Clermont 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 Cincinnati, 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 $7,515 in zip code 45204, while the lowest is $6,488 in zip code 45215. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cincinnati Assessed Value
$144,900
Average Clermont County Assessed Value
$145,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45204 | $157,870 | $166,525 | $180,950 | $195,375 | $204,030 |
| 45215 | $120,720 | $136,350 | $162,400 | $188,450 | $204,080 |
| 45241 | $151,200 | $151,200 | $151,200 | $151,200 | $151,200 |
| 45244 | $77,500 | $112,600 | $146,050 | $212,875 | $311,980 |
| 45245 | N/A | N/A | N/A | N/A | N/A |
| 45255 | $64,200 | $103,625 | $141,450 | $218,600 | $284,810 |
Source: Ownwell
Property Tax Bills Across Cincinnati, Ohio
In Cincinnati, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Various factors such as location, property size, and improvements can influence this valuation. For instance, in Clermont County, where Cincinnati is located, the median home price is $144,900. Homeowners in Cincinnati can expect their tax bills to vary significantly. The 25th percentile tax bill stands at $5,522, while the 75th percentile reaches $10,329. At the 90th percentile, tax bills can soar to $14,410. The highest median tax bill in the area is found in the 45204 zip code, amounting to $7,515, whereas the lowest median tax bill is $6,488 in the 45215 zip code. These tax bills can have a substantial impact on homeowners, influencing their overall cost of living and potentially affecting decisions related to property ownership and investment. With the national median property tax rate at 0.99%, Cincinnati's rates highlight the importance of understanding local tax regulations and their implications.
Average Cincinnati Tax Bill
$7,252
Average Clermont County Tax Bill
$6,844
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cincinnati, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45204 | $6,557 | $6,916 | $7,515 | $8,114 | $8,473 |
| 45215 | $3,532 | $4,641 | $6,488 | $8,335 | $9,443 |
| 45241 | $7,166 | $7,166 | $7,166 | $7,166 | $7,166 |
| 45244 | $4,630 | $5,769 | $7,467 | $11,765 | $18,083 |
| 45245 | N/A | N/A | N/A | N/A | N/A |
| 45255 | $3,278 | $5,114 | $6,595 | $10,007 | $13,188 |
Source: Ownwell