Hooven, Ohio Property Taxes
The median property tax rate in Hooven, OH is 2.56%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Hooven at $39,370, the typical annual property tax bill reaches $973, surpassing the national median of $2,690. Property taxes in Hooven are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hooven'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 Hooven or another part of Hamilton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hooven, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.56%
Estimate Property Tax Bill
$1,008
$935
Ownwell’s Hooven Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hooven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hooven 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 Hooven, Ohio
Property taxes in Hooven, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hooven is 2.56%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Hooven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hooven 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 Hooven's effective property tax rate to other counties in Ohio and the national median. For comparison, the highest median property tax rate in Hamilton County is also 2.56%, while the lowest median tax rate is likewise 2.56%. Understanding how these cities compare with Hooven 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 Hooven Tax Rate
2.56%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hooven, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45033 | 1.59% | 2.09% | 2.56% | 3.09% | 4.73% |
Source: Ownwell
Property Tax Assessment Values Across Hooven, Ohio
In Hooven, 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 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 Hooven, 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 Hooven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hooven is $39,370, with the 25th percentile tax bill at $670 and the 75th percentile at $1,315. The highest and lowest median tax bills are both $973 in the 45033 zip code.
Average Hooven Assessed Value
$39,370
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 Hooven, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45033 | $11,488 | $25,035 | $39,370 | $55,445 | $71,664 |
Source: Ownwell
Property Tax Bills Across Hooven, Ohio
In Hooven, located in Hamilton County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. The tax rate in Hooven is applied to this assessed value to determine the annual property tax bill. Various factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Hooven, understanding these factors is crucial as they directly impact the financial obligations tied to property ownership. The median home price in Hooven is $39,370, leading to a range of tax bills. For instance, the 25th percentile tax bill is $670, while the 75th percentile reaches $1,315, and the 90th percentile is $1,764. Compared to the national median property tax rate of 0.99%, Hooven's tax rates reflect the local economic conditions and funding needs for public services. Homeowners must stay informed about these aspects to manage their finances effectively.
Average Hooven Tax Bill
$973
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Hooven, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45033 | $460 | $670 | $973 | $1,315 | $1,764 |
Source: Ownwell