Miamiville, Ohio Property Taxes
The median property tax rate in Miamiville, OH is 1.72%, which is considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With a median home value of $89,405 in Miamiville, the typical annual property tax bill reaches $1,562, falling short of the national median of $2,690. Property taxes in Miamiville 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 Miamiville'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 Miamiville 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
Miamiville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.72%
Estimate Property Tax Bill
$1,538
$1,427
Ownwell’s MIAMIVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MIAMIVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MIAMIVILLE 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 Miamiville, Ohio
Property taxes in Miamiville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Miamiville is 1.72%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Miamiville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miamiville 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 Miamiville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45147 zip code has the highest median property tax rate of 1.72%, while the 45147 zip code also has the lowest median tax rate of 1.72%. Understanding how these cities compare with Miamiville 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 Miamiville Tax Rate
1.72%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miamiville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45147 | 1.58% | 1.64% | 1.72% | 1.81% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Miamiville, Ohio
In MIAMIVILLE, 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 MIAMIVILLE, 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, MIAMIVILLE's highest median tax bill is $1562 in the 45147 zip code. 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 MIAMIVILLE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Miamiville Assessed Value
$89,405
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 Miamiville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45147 | $79,281 | $83,078 | $89,405 | $95,732 | $99,529 |
Source: Ownwell
Property Tax Bills Across Miamiville, Ohio
In Miamiville, located in Hamilton County, OH, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in Miamiville is $89,405. Property taxes are calculated by multiplying the assessed value by the local tax rate. For example, the tax bill for the 25th percentile of homes is $1,376, while for the 75th percentile, it's $1,748. The 90th percentile tax bill is $1,859. Various factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Higher-value homes typically incur higher property tax bills. Comparatively, the highest median tax bill in the area is $1,562, which is significantly above the national median property tax rate of 0.99%. This means homeowners in Miamiville can expect varying tax bills based on their property's value, impacting their annual financial planning and overall cost of homeownership.
Average Miamiville Tax Bill
$1,562
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Miamiville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45147 | $1,264 | $1,376 | $1,562 | $1,748 | $1,859 |
Source: Ownwell