Reading, Ohio Property Taxes
The median property tax rate in Reading, OH is 2.38%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Reading at $67,690, the typical annual property tax bill reaches $1,534, exceeding the national median of $2,690. Property taxes in Reading 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 Reading'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 Reading 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
Reading, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.38%
Estimate Property Tax Bill
$1,611
$1,495
Ownwell’s Reading Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reading with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reading 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 Reading, Ohio
Property taxes in Reading, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reading is 2.38%, significantly higher than the U.S. national median of 0.99%. Local government entities within Reading set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reading 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 Reading's effective property tax rate to other areas in Hamilton County and the national median. For comparison, the 45215 zip code has a median property tax rate of 2.38%, which is the same as Reading's. Understanding how these areas compare with Reading 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 Reading Tax Rate
2.38%
Average Hamilton County Tax Rate
2.32%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reading, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45215 | 1.65% | 2.37% | 2.38% | 2.44% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Reading, Ohio
In Reading, 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 Reading, 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 Reading helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Reading is $1534 in zip code 45215, while the lowest median tax bill is also $1534 in the same zip code.
Average Reading Assessed Value
$67,690
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 Reading, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45215 | $36,280 | $51,610 | $67,690 | $84,240 | $104,900 |
Source: Ownwell
Property Tax Bills Across Reading, Ohio
In Reading, Ohio, property tax bills are calculated based on the assessed value of your home, which is determined by the Hamilton County Auditor's office. The assessed value is a percentage of the market value of your property. This value is then multiplied by the local tax rate to determine your annual tax bill. For homeowners in Reading, the median home price is $67,690, and the median tax bill is $1,534, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence your property tax bill, including the property's location, its assessed value, and any applicable exemptions. Homeowners in the 25th percentile can expect to pay around $1,139, while those in the 75th percentile might see bills as high as $1,985. The highest tax bills, at the 90th percentile, can reach up to $2,562. These taxes fund essential public services like schools, roads, and emergency services, making them a crucial aspect of homeownership in Reading.
Average Reading Tax Bill
$1,534
Average Hamilton County Tax Bill
$3,119
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Reading, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45215 | $757 | $1,139 | $1,534 | $1,985 | $2,562 |
Source: Ownwell