Oak Hill, Ohio Property Taxes
The median property tax rate in Oak Hill, OH is 1.02%, slightly higher than the national median of 0.99% but significantly lower than Ohio's state median of 1.80%. With a median home value of $60,770, the typical annual property tax bill in Oak Hill is approximately $511, well below the national median of $2,690. Property taxes in Oak Hill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Oak 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 Oak 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
Oak Hill, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$620
Ownwell’s Oak Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak 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 Oak Hill, Ohio
Property taxes in Oak Hill, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Hill is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Oak Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak 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 Oak Hill's effective property tax rate to other regions and the national median. For comparison, the zip code 45656 has the highest median property tax rate of 1.02%, while the lowest median tax rate is also found in the zip code 45656 at 1.02%. Understanding how these areas compare with Oak Hill provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oak Hill Tax Rate
1.02%
Average Lawrence County Tax Rate
1.02%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Hill, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45656 | 0.72% | 0.99% | 1.02% | 1.06% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Oak Hill, Ohio
In Oak 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 Lawrence 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 Oak 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. 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 Oak Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 45656 has the highest median tax bill at $511.00, which is a significant figure for residents to consider.
Average Oak Hill Assessed Value
$60,770
Average Lawrence County Assessed Value
$85,530
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oak Hill, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45656 | $13,140 | $21,260 | $60,770 | $80,008 | $121,870 |
Source: Ownwell
Property Tax Bills Across Oak Hill, Ohio
In Oak Hill, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property assessor. The assessed value is typically a percentage of the market value of the property. Various factors, such as the size of the property, location, and any improvements made, play a crucial role in determining this value. Homeowners in Oak Hill can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is around $212, while the 75th percentile tax bill reaches $793, and the 90th percentile tax bill can go up to $1,200. These figures are influenced by the median home price in Oak Hill, which stands at $60,770. Compared to the national median property tax rate of 0.99%, Oak Hill's property taxes can be considered moderate. Understanding these factors is essential for homeowners as property taxes directly impact annual housing costs and long-term financial planning.
Average Oak Hill Tax Bill
$511
Average Lawrence County Tax Bill
$879
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Hill, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45656 | $130 | $212 | $511 | $793 | $1,200 |
Source: Ownwell