Peebles, Ohio Property Taxes
The median property tax rate in Peebles, OH is 1.12%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $85,400, the typical annual property tax bill in Peebles is $861, significantly below the national median of $2,690. Property taxes in Peebles are calculated based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Peebles' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Peebles or another part of Highland County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Peebles, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Peebles Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peebles with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peebles 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 Peebles, Ohio
Property taxes in Peebles, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Peebles is 1.12%, significantly higher than the U.S. national median of 0.99%. Local government entities within Peebles set these rates annually, and they can vary across different neighborhoods. Each year, Peebles 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 Peebles' effective property tax rate to other areas and the national median. For comparison, the 45660 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these figures compare with Peebles provides valuable insights into the varying tax landscape across Highland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Peebles Tax Rate
1.12%
Average Highland County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peebles, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45660 | 0.47% | 0.75% | 1.12% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Peebles, Ohio
In Peebles, 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 Highland 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 Peebles, 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 Peebles helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Peebles, the highest and lowest median tax bills are both $861, found in the 45660 zip code.
Average Peebles Assessed Value
$85,400
Average Highland County Assessed Value
$82,400
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Peebles, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45660 | $15,600 | $37,000 | $85,400 | $147,700 | $269,800 |
Source: Ownwell
Property Tax Bills Across Peebles, Ohio
In Peebles, Ohio, property tax bills are determined by assessing the value of a home and applying the local tax rate. The median home price in Peebles is $85,400, which serves as a baseline for calculating property taxes. Local tax authorities assess the value of each property annually, considering factors such as market conditions, property size, and improvements made to the home. Once the assessed value is established, the tax rate is applied. In Peebles, the median property tax bill is around $861, aligning closely with the national median property tax rate of 0.99%. Homeowners in the 25th percentile pay approximately $446, while those in the 75th percentile face bills around $1,439. At the 90th percentile, property tax bills can reach up to $2,408. These property taxes fund essential community services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Therefore, understanding how property taxes are calculated can help homeowners better manage their financial planning and anticipate yearly expenses.
Average Peebles Tax Bill
$861
Average Highland County Tax Bill
$971
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Peebles, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45660 | $76 | $446 | $861 | $1,439 | $2,408 |
Source: Ownwell