Centerville, Ohio Property Taxes
The median property tax rate in Centerville, OH is 2.57%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Centerville at $161,760, the typical annual property tax bill reaches $4,062, exceeding the national median of $2,690. Property taxes in Centerville 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 Centerville'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 Centerville 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
Centerville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.57%
Estimate Property Tax Bill
$4,157
$3,858
Ownwell’s Centerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centerville 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 Centerville, Ohio
Property taxes in Centerville, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Centerville is 2.57%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Centerville set these rates annually, and they can vary considerably across different neighborhoods. Each year, Centerville 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 Centerville's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the 45459 zip code has the highest median property tax rate of 2.62%, while the 45440 zip code has the lowest median tax rate of 2.56%. Understanding how these areas compare with Centerville 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 Centerville Tax Rate
2.57%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centerville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45440 | 2.34% | 2.56% | 2.56% | 2.57% | 2.57% |
| 45458 | 2.35% | 2.56% | 2.57% | 2.62% | 2.71% |
| 45459 | 2.20% | 2.45% | 2.62% | 2.64% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Centerville, Ohio
In Centerville, 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 Centerville, 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, zip code 45458 has the highest median tax bill at $4,177, while zip code 45459 has the lowest at $3,605. Being aware of these valuation processes in Centerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Centerville Assessed Value
$161,760
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 Centerville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45440 | $159,060 | $161,760 | $172,520 | $174,970 | $179,704 |
| 45458 | $88,914 | $138,295 | $162,840 | $177,882 | $212,871 |
| 45459 | $4,487 | $95,690 | $153,160 | $282,312 | $394,520 |
Source: Ownwell
Property Tax Bills Across Centerville, Ohio
In Centerville, Montgomery County, OH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value determined by the county assessor. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Factors influencing the tax bill include the home's market value, the assessment ratio, and any applicable exemptions or deductions. For instance, the median home price in Centerville is $161,760. Depending on the home's assessed value, the tax bill can vary significantly. Homeowners in the 25th percentile face tax bills around $3,225, while those in the 75th percentile pay approximately $4,684. The highest median tax bill in the area is $4,177 in the 45458 zip code, whereas the lowest is $3,605 in the 45459 zip code. These property taxes directly impact homeowners by influencing their overall housing costs and potential resale value. Understanding how property taxes are calculated helps homeowners budget effectively and plan for future expenses.
Average Centerville Tax Bill
$4,062
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Centerville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45440 | $3,886 | $4,036 | $4,150 | $4,487 | $4,608 |
| 45458 | $2,321 | $3,223 | $4,177 | $4,676 | $5,264 |
| 45459 | $121 | $2,402 | $3,605 | $6,710 | $10,696 |
Source: Ownwell