Mount Healthy, Ohio Property Taxes
The median property tax rate in Mount Healthy, OH is 2.58%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Mount Healthy, the typical annual property tax bill reaches $2,246, slightly below the national median of $2,690. Property taxes in Mount Healthy 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 Mount Healthy'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 Mount Healthy 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
Mount Healthy, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$2,281
$2,116
Ownwell’s Mount Healthy Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Mount Healthy using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Healthy to provide an estimate of 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 Mount Healthy, Ohio
Property taxes in Mount Healthy, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Healthy is 2.58%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mount Healthy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Healthy 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 Mount Healthy's effective property tax rate to other counties in Ohio and the national median. For comparison, the highest and lowest median property tax rates within Hamilton County are both 2.58%, identical to Mount Healthy's rate. Understanding how these cities compare with Mount Healthy 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 Mount Healthy Tax Rate
2.58%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Healthy, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45231 | 2.12% | 2.57% | 2.58% | 2.66% | 2.97% |
Source: Ownwell
Property Tax Assessment Values Across Mount Healthy, Ohio
In Mount Healthy, 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 Mount Healthy, 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 Mount Healthy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,246, found in the 45231 zip code.
Average Mount Healthy Assessed Value
$88,400
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 Mount Healthy, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45231 | $51,073 | $66,552 | $88,400 | $140,438 | $194,116 |
Source: Ownwell
Property Tax Bills Across Mount Healthy, Ohio
In Mount Healthy, located in 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 $88,400, homeowners may see varying tax bills depending on their property's assessed value and specific tax rate. Several factors influence the tax bill, including property size, location, and any exemptions the homeowner may qualify for. In Mount Healthy, tax bills can range significantly, with the 25th percentile at $1,615 and the 75th percentile at $3,627. Some homeowners may even face tax bills as high as $5,680, placing a considerable financial responsibility on them. Compared to the national median property tax rate of 0.99%, homeowners in Mount Healthy may experience different financial impacts based on their specific circumstances. Understanding these variables can help homeowners better anticipate their annual property tax obligations.
Average Mount Healthy Tax Bill
$2,246
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Healthy, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45231 | $1,241 | $1,615 | $2,246 | $3,627 | $5,680 |
Source: Ownwell