Brooklyn Heights, Ohio Property Taxes
The median property tax rate in Brooklyn Heights, OH is 2.48%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Brooklyn Heights at $70,040, the typical annual property tax bill reaches $1,740, which is below the national median of $2,690. Property taxes in Brooklyn Heights are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brooklyn Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Brooklyn Heights 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
Brooklyn Heights, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.48%
Estimate Property Tax Bill
$1,737
$1,612
Ownwell’s Brooklyn Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brooklyn Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brooklyn Heights 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 Brooklyn Heights, Ohio
Property taxes in Brooklyn Heights, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brooklyn Heights is 2.48%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Brooklyn Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brooklyn Heights 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 Brooklyn Heights' effective property tax rate to other areas in Hamilton County and the national median. For comparison, the zip code 44131 has the highest median property tax rate of 2.48%, while the same zip code also represents the lowest median tax rate of 2.48%. Understanding how these areas compare with Brooklyn Heights 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 Brooklyn Heights Tax Rate
2.48%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brooklyn Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44131 | 2.48% | 2.48% | 2.48% | 2.48% | 2.48% |
Source: Ownwell
Property Tax Assessment Values Across Brooklyn Heights, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Brooklyn Heights, Ohio. The market value represents 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 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 Brooklyn Heights, 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 median home price in Brooklyn Heights is $70,040, with the median tax bill being $1,740. 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 Brooklyn Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brooklyn Heights Assessed Value
$70,040
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 Brooklyn Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44131 | $70,040 | $70,040 | $70,040 | $70,040 | $70,040 |
Source: Ownwell
Property Tax Bills Across Brooklyn Heights, Ohio
In Brooklyn Heights, Hamilton County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $70,040, homeowners can expect a tax bill around $1,740, which is consistent across various percentiles in the area. Several factors influence the assessed value, including property size, location, and condition. These assessments are periodically updated to reflect market changes, ensuring that tax contributions are fair and equitable. Compared to the national median property tax rate of 0.99%, Brooklyn Heights residents face a relatively higher effective tax rate, impacting their overall cost of homeownership. This can influence decisions on buying, selling, or renovating properties, as taxes form a significant part of annual home expenses. Understanding these factors helps homeowners plan better and anticipate their financial obligations.
Average Brooklyn Heights Tax Bill
$1,740
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Brooklyn Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44131 | $1,740 | $1,740 | $1,740 | $1,740 | $1,740 |
Source: Ownwell