Miamisburg, Ohio Property Taxes
The median property tax rate in Miamisburg, OH is 2.65%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Miamisburg at $147,600, the typical annual property tax bill reaches $3,702, exceeding the national median of $2,690. Property taxes in Miamisburg 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 Miamisburg'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 Miamisburg 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
Miamisburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$3,911
$3,630
Ownwell’s Miamisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Miamisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Miamisburg 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 Miamisburg, Ohio
Property taxes in Miamisburg, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Miamisburg is 2.65%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Miamisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Miamisburg 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 Miamisburg's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45342 zip code has the highest median property tax rate of 2.65%, while the same zip code also has the lowest median tax rate of 2.65%. Understanding how these cities compare with Miamisburg 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 Miamisburg Tax Rate
2.65%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Miamisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45342 | 1.99% | 2.63% | 2.65% | 2.87% | 2.94% |
Source: Ownwell
Property Tax Assessment Values Across Miamisburg, Ohio
In Miamisburg, 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 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 Miamisburg, 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 Miamisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 45342, with a median tax bill of $3,702.
Average Miamisburg Assessed Value
$147,600
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 Miamisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45342 | $67,798 | $94,800 | $147,600 | $192,760 | $241,824 |
Source: Ownwell
Property Tax Bills Across Miamisburg, Ohio
In Miamisburg, located in Montgomery County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value determined by the county assessor. Various factors influence this assessed value, including the home's size, age, location, and condition. For instance, the median home price in Miamisburg is $147,600, which serves as a baseline for calculating property taxes. Once the assessed value is established, local tax rates, known as millage rates, are applied. These rates are determined by local governments and can vary depending on the specific needs and budgets of the community. Homeowners in Miamisburg can expect their property tax bills to range significantly. For example, tax bills at the 25th percentile are around $2,352, while those at the 75th percentile reach approximately $5,138. At the 90th percentile, tax bills can be as high as $6,504. Compared to the national median property tax rate of 0.99%, Miamisburg’s property taxes can be relatively high, impacting homeowners' annual expenses and overall cost of living.
Average Miamisburg Tax Bill
$3,702
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Miamisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45342 | $1,539 | $2,352 | $3,702 | $5,138 | $6,504 |
Source: Ownwell