Troy, Miami County, Ohio Property Taxes
Median Troy, OH effective property tax rate: 1.29%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Troy, OH home value: $179,900
Median annual Troy, OH tax bill: $2,289, $111 lower than the national median property tax bill of $2,400.
How are property taxes in Miami County calculated?
Property taxes in Troy, OH are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Troy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Troy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Troy, Miami County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.29%
Estimate Property Tax Bill
$2,321
$2,154
Property Tax Rates Across Troy, Miami County, Ohio
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Troy’s effective property tax rate to other cities in Ohio and the median property tax rates in Ohio and the U.S.
In Troy, located in Miami County, the property tax rate is 1.29%. This rate is notably higher than the national median property tax rate of 1.02%. Homeowners in Troy face a property tax bill that surpasses the national median of $2400, reflecting the higher tax rate in this region. Understanding these differences can help property owners make informed decisions about appealing their property taxes or seeking exemptions. By comparing local rates to state and national averages, property owners can better assess their property tax situation and explore potential savings.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Troy Tax Rate
1.29%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Miami County Tax Rate
1.33%
Median Effective Ohio Tax Rate
1.80%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Troy, Miami County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45373 | 1.09% | 1.20% | 1.29% | 1.33% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Troy, Miami County, Ohio
When examining property taxes in Troy, Ohio, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Miami County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Miami County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Troy. For example, the median home price in Troy is $179,900, with tax bills ranging significantly across the county. Zip code 45373 has the highest median home price at $179,900.
Property Tax Assessment Values Across Troy, Miami County, Ohio
Source: Ownwell
$69,500
$148,150
$226,800
Median Troy Market Value
$179,900
Median Miami County Market Value
$159,300
Median Ohio Market Value
$133,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Troy, Miami County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45373 | $87,800 | $120,000 | $179,900 | $266,000 | $374,900 |
Source: Ownwell
Property Tax Bills Across Troy, Miami County, Ohio
Median Troy Tax Bill
$2,289
Median Miami County Tax Bill
$2,118
Median Ohio Tax Bill
$2,396
Median United States Tax Bill
$2,400
Property Tax Bills Across Troy, Miami County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45373 | $1,154 | $1,548 | $2,289 | $3,403 | $4,697 |
Source: Ownwell