Ann Arbor, Ohio Property Taxes
The median property tax rate in Ann Arbor, OH is 2.49%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $56,250 in Ann Arbor, the typical annual property tax bill amounts to $1,401, surpassing the national median of $2,690. Property taxes in Ann Arbor are determined based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Ann Arbor's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Ann Arbor or another part of the city, comprehending the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Ann Arbor, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.49%
Estimate Property Tax Bill
$1,401
$1,300
Ownwell’s ANN ARBOR Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ANN ARBOR with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ANN ARBOR 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 Ann Arbor, Ohio
Property taxes in Ann Arbor, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ann Arbor is 2.49%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Ann Arbor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ann Arbor 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 Ann Arbor's effective property tax rate to other counties in Ohio and the national median. For comparison, the 48103 zip code has the highest median property tax rate of 2.49%, while the same 48103 zip code also has the lowest median tax rate of 2.49%. Understanding how these cities compare with Ann Arbor provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ann Arbor Tax Rate
2.49%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ann Arbor, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48103 | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Ann Arbor, Ohio
In Ann Arbor, 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 Hamilton 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 Ann Arbor, 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. For instance, the highest median tax bill in the area is $1401 in the 48103 zip code, which is also the lowest median 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 Ann Arbor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ann Arbor Assessed Value
$56,250
Average Hamilton County Assessed Value
$139,190
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ann Arbor, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48103 | $56,250 | $56,250 | $56,250 | $56,250 | $56,250 |
Source: Ownwell
Property Tax Bills Across Ann Arbor, Ohio
In Ann Arbor, located in Hamilton County, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The property tax rate in Ann Arbor is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as market trends. For homeowners in Ann Arbor, the median home price is $56,250, and the median property tax bill is $1,401. This tax bill remains consistent across various percentiles, indicating a stable tax environment. Compared to the national median property tax rate of 0.99%, Ann Arbor homeowners experience a different financial impact. Understanding how these taxes are calculated helps homeowners budget accordingly and anticipate their annual financial obligations. Accurate assessments ensure a fair distribution of the tax burden, supporting local services and infrastructure.
Average Ann Arbor Tax Bill
$1,401
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Ann Arbor, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 48103 | $1,401 | $1,401 | $1,401 | $1,401 | $1,401 |
Source: Ownwell