Dayton, Ohio Property Taxes
The median property tax rate in Dayton, OH is 1.66%, which is considerably higher than the national median of 0.99% but slightly below Ohio's state median of 1.80%. With a median home value of $166,500 in Dayton, the typical annual property tax bill reaches $2,741, just under the national median of $2,690. Property taxes in Dayton are calculated based on the assessed value, which is typically lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dayton'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 Dayton 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
Dayton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$2,764
$2,565
Ownwell’s Dayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dayton 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 Dayton, Ohio
Property taxes in Dayton, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dayton is 1.66%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Dayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dayton 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 Dayton's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45424 zip code has both the highest and lowest median property tax rate of 1.66%. Understanding how these areas compare with Dayton provides valuable insights into the varying tax landscape across Miami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dayton Tax Rate
1.66%
Average Miami County Tax Rate
1.33%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dayton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45424 | 1.36% | 1.55% | 1.66% | 1.67% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Dayton, Ohio
In Dayton, 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 Miami 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 Dayton, 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. For instance, the highest median tax bill in Dayton is $2,741 in the 45424 zip code. Being aware of these valuation processes in Dayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dayton Assessed Value
$166,500
Average Miami County Assessed Value
$159,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dayton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45424 | $73,580 | $124,800 | $166,500 | $219,150 | $310,840 |
Source: Ownwell
Property Tax Bills Across Dayton, Ohio
In Dayton, property tax bills are calculated based on the assessed value of a home, which is determined by Miami County's appraisal of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable properties in the area. For homeowners in Dayton, the median home price stands at $166,500, with property tax bills varying significantly. The 25th percentile tax bill is around $1,834, while the 75th percentile reaches $3,422, and the 90th percentile can go up to $4,846. The highest median tax bill within the city is $2,741, found in the 45424 zip code. Comparatively, the national median property tax rate is 0.99%, which provides context for understanding local tax burdens. These taxes fund essential services like public schools, infrastructure, and emergency services, directly impacting the quality of life for Dayton residents.
Average Dayton Tax Bill
$2,741
Average Miami County Tax Bill
$2,118
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Dayton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45424 | $1,201 | $1,834 | $2,741 | $3,422 | $4,846 |
Source: Ownwell