Deer Park, Ohio Property Taxes
The median property tax rate in Deer Park, Ohio is 2.83%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value of $137,000 in Deer Park, the typical annual property tax bill reaches $3,748, surpassing the national median of $2,690. Property taxes in Deer Park are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence exemption. Understanding Deer Park'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 Deer Park 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
Deer Park, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Deer Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deer Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deer Park 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 Deer Park, Ohio
Property taxes in Deer Park, Ohio, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Deer Park is 2.83%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Deer Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deer Park 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 Deer Park's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45236 zip code has the highest median property tax rate of 2.83%, while the same zip code also has the lowest median tax rate of 2.83%. Understanding how these cities compare with Deer Park 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 Deer Park Tax Rate
2.83%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deer Park, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45236 | 2.35% | 2.83% | 2.83% | 2.83% | 2.91% |
Source: Ownwell
Property Tax Assessment Values Across Deer Park, Ohio
In Deer Park, 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 Deer Park, 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 Deer Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Deer Park are both $3,748, found in the 45236 zip code.
Average Deer Park Assessed Value
$137,000
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 Deer Park, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45236 | $109,570 | $115,790 | $137,000 | $152,500 | $179,850 |
Source: Ownwell
Property Tax Bills Across Deer Park, Ohio
In Deer Park, Hamilton County, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. For instance, a median home price in Deer Park is $137,000. The tax rate applied to this assessed value is influenced by local levies and millage rates set by various taxing authorities, including schools, municipalities, and special districts. A homeowner's tax bill can vary significantly within Deer Park. For example, the tax bill at the 25th percentile is $3,273, while at the 75th percentile, it is $4,278. The highest tax bills, around the 90th percentile, can reach up to $4,795. These figures illustrate the range of property tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, Deer Park's property tax rates can be considered relatively high, impacting homeowners' annual expenses and influencing their financial planning.
Average Deer Park Tax Bill
$3,748
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Deer Park, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45236 | $2,728 | $3,273 | $3,748 | $4,278 | $4,795 |
Source: Ownwell