Mason, Ohio Property Taxes
The median property tax rate in Mason, Ohio is 2.08%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Mason at $150,735, the typical annual property tax bill reaches $2,701, slightly above the national median of $2,690. Property taxes in Mason 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 Mason'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 Mason 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
Mason, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$3,135
Ownwell’s Mason Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mason with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mason 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 Mason, Ohio
Property taxes in Mason, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mason is 2.08%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mason set these rates annually, and they can vary across different neighborhoods. Each year, Mason 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 Mason's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45040 zip code has the highest median property tax rate of 2.08%, while the same zip code also has the lowest median tax rate of 2.08%. Understanding how these areas compare with Mason 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 Mason Tax Rate
2.08%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mason, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45040 | 1.79% | 1.81% | 2.08% | 2.66% | 3.17% |
Source: Ownwell
Property Tax Assessment Values Across Mason, Ohio
In Mason, 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 Mason, 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 Mason helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mason is $2,701 in the 45040 zip code, while the lowest median tax bill is also $2,701 in the same zip code.
Average Mason Assessed Value
$150,735
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 Mason, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45040 | $25,005 | $54,952 | $150,735 | $171,548 | $305,745 |
Source: Ownwell
Property Tax Bills Across Mason, Ohio
In Mason, located in Hamilton County, OH, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. Several factors influence the final tax bill, including the property's location, the local government's budgetary needs, and any applicable exemptions or deductions. For instance, the median home price in Mason is $150,735. Homeowners in the 25th percentile pay around $1,318, while those in the 75th percentile face bills of approximately $3,155. At the higher end, the 90th percentile sees tax bills reaching up to $6,632. These tax bills can significantly impact homeowners, affecting their monthly expenses and overall financial planning. Comparatively, Mason’s property tax rates are in line with the national median property tax rate of 0.99%, making it a critical consideration for potential homebuyers and current residents alike.
Average Mason Tax Bill
$2,701
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mason, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45040 | $793 | $1,318 | $2,701 | $3,155 | $6,632 |
Source: Ownwell