Beavercreek, Ohio Property Taxes
The median property tax rate in Beavercreek, OH is 2.21%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Beavercreek at $145,040, the typical annual property tax bill reaches $3,016, exceeding the national median of $2,690. Property taxes in Beavercreek 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 Beavercreek'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 Beavercreek 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
Beavercreek, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.21%
Estimate Property Tax Bill
$3,205
Ownwell’s Beavercreek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beavercreek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beavercreek 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 Beavercreek, Ohio
Property taxes in Beavercreek, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beavercreek is 2.21%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Beavercreek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beavercreek 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 Beavercreek's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45430 zip code has the highest median property tax rate of 2.75%, while the 45431 zip code has the lowest median tax rate of 2.21%. Understanding how these cities compare with Beavercreek provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beavercreek Tax Rate
2.21%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beavercreek, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45430 | 1.40% | 2.75% | 2.75% | 2.76% | 2.83% |
| 45431 | 1.79% | 1.88% | 2.21% | 2.26% | 2.27% |
| 45432 | 2.68% | 2.68% | 2.68% | 2.68% | 2.68% |
| 45434 | 2.66% | 2.66% | 2.66% | 2.66% | 2.66% |
Source: Ownwell
Property Tax Assessment Values Across Beavercreek, Ohio
In Beavercreek, 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 Montgomery 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 Beavercreek, 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. Understanding the distinction between these valuation concepts allows property owners to better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest median tax bill in Beavercreek is $4,506 in the 45430 zip code, while the lowest is $638 in the 45432 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beavercreek Assessed Value
$145,040
Average Montgomery County Assessed Value
$98,910
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beavercreek, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45430 | $152,816 | $159,850 | $169,455 | $178,142 | $265,574 |
| 45431 | $74,088 | $101,090 | $143,800 | $158,990 | $168,648 |
| 45432 | $23,840 | $23,840 | $23,840 | $23,840 | $23,840 |
| 45434 | $79,410 | $79,410 | $79,410 | $79,410 | $79,410 |
Source: Ownwell
Property Tax Bills Across Beavercreek, Ohio
In Beavercreek, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's location, size, and any improvements made can influence the assessed value. For instance, homes in the zip code 45430 have the highest median tax bill at $4,506, while those in 45432 have the lowest at $638. The median home price in Beavercreek is $145,040, and tax bills can vary significantly. For example, tax bills at the 25th percentile are around $2,129, while those at the 75th percentile reach $3,422, and at the 90th percentile, they can go up to $3,800. With the national median property tax rate at 0.99%, homeowners in Beavercreek may find their tax bills slightly higher or lower depending on the specific assessed value and applicable exemptions. Understanding these factors is crucial for homeowners to budget accordingly and potentially seek appeals or exemptions to manage their tax liabilities.
Average Beavercreek Tax Bill
$3,016
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Beavercreek, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45430 | $2,246 | $4,151 | $4,506 | $4,885 | $7,536 |
| 45431 | $1,567 | $2,095 | $3,003 | $3,393 | $3,641 |
| 45432 | $638 | $638 | $638 | $638 | $638 |
| 45434 | $2,113 | $2,113 | $2,113 | $2,113 | $2,113 |
Source: Ownwell