North College Hill, Ohio Property Taxes
The median property tax rate in North College Hill, 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 North College Hill at $57,000, the typical annual property tax bill reaches $1,470, exceeding the national median of $2,690. Property taxes in North College Hill 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 North College Hill'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 North College Hill 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
North College Hill, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$1,471
Ownwell’s North College Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North College Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North College Hill 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 North College Hill, Ohio
Property taxes in North College Hill, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North College Hill is 2.58%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within North College Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, North College Hill 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 North College Hill's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45239 zip code has both the highest and lowest median property tax rate of 2.58%. Understanding how these cities compare with North College Hill 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 North College Hill 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 North College Hill, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45239 | 2.10% | 2.50% | 2.58% | 2.58% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across North College Hill, Ohio
In North College Hill, 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 North College Hill, 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 example, the highest median tax bill in the area is $1470 in the 45239 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 North College Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average North College Hill Assessed Value
$57,000
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 North College Hill, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45239 | $41,010 | $49,830 | $57,000 | $66,070 | $112,550 |
Source: Ownwell
Property Tax Bills Across North College Hill, Ohio
In North College Hill, Hamilton County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, and the tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in North College Hill, the median home price is $57,000. Property tax bills can vary significantly, with the 25th percentile at $1,062 and the 75th percentile at $1,704. The 90th percentile can see tax bills as high as $2,736. Several factors influence these variations, including property size, location, and any applicable exemptions. For example, properties in the zip code 45239 have the highest median tax bill at $1,470. Compared to the national median property tax rate of 0.99%, the tax rates in North College Hill can be relatively high, impacting homeowners by adding a significant annual expense. Understanding these factors can help homeowners better anticipate their financial obligations.
Average North College Hill Tax Bill
$1,470
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across North College Hill, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45239 | $956 | $1,062 | $1,470 | $1,704 | $2,736 |
Source: Ownwell