Moraine, Ohio Property Taxes
The median property tax rate in Moraine, OH is 2.63%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Moraine at $66,720, the typical annual property tax bill amounts to $1,646, which is below the national median of $2,690. Property taxes in Moraine are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Moraine'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 Moraine 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
Moraine, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.63%
Estimate Property Tax Bill
$1,755
Ownwell’s Moraine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moraine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moraine 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 Moraine, Ohio
Property taxes in Moraine, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moraine is 2.63%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Moraine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moraine 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 Moraine's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45409 has the highest median property tax rate of 2.91%, while the zip code 45439 has the lowest median tax rate of 2.63%. Understanding how these areas compare with Moraine 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 Moraine Tax Rate
2.63%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moraine, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45409 | 2.72% | 2.81% | 2.91% | 3.02% | 3.09% |
| 45439 | 1.66% | 2.45% | 2.63% | 2.76% | 3.18% |
Source: Ownwell
Property Tax Assessment Values Across Moraine, Ohio
In Moraine, 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 Moraine, 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 Moraine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Montgomery County is $2,858 in the 45409 zip code, while the lowest median tax bill is $1,642 in the 45439 zip code.
Average Moraine Assessed Value
$66,720
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 Moraine, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45409 | $87,675 | $98,462 | $102,105 | $105,260 | $118,015 |
| 45439 | $36,480 | $51,775 | $66,650 | $82,175 | $96,080 |
Source: Ownwell
Property Tax Bills Across Moraine, Ohio
In Moraine, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the Montgomery County Auditor. This assessed value is typically a percentage of the property's market value. The tax rate, set by local taxing authorities, is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the home's location, size, and any applicable exemptions or deductions. For instance, in Moraine, the median home price is $66,720, and property tax bills can range significantly. Homeowners in the 25th percentile pay around $1,196, while those in the 75th percentile face bills closer to $2,098. The highest median tax bill in the area is $2,858, found in the 45409 zip code, whereas the lowest is $1,642 in the 45439 zip code. Compared to the national median property tax rate of 0.99%, Moraine's tax rates can significantly impact homeowners, making it crucial to understand how these calculations are made.
Average Moraine Tax Bill
$1,646
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Moraine, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45409 | $2,587 | $2,733 | $2,858 | $3,013 | $3,480 |
| 45439 | $814 | $1,195 | $1,642 | $2,093 | $2,717 |
Source: Ownwell