Phillipsburg, Ohio Property Taxes
The median property tax rate in Phillipsburg, OH is 3.39%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Phillipsburg, the typical annual property tax bill reaches $2,638, closely aligning with the national median of $2,690. Property taxes in Phillipsburg 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 Phillipsburg'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 Phillipsburg 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
Phillipsburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.39%
Estimate Property Tax Bill
$2,692
$2,498
Ownwell’s Phillipsburg Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Phillipsburg with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Phillipsburg to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in examining trends on a more localized level, additional neighborhood-specific information is available below. Your property’s assessed value is the figure assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Phillipsburg, Ohio
Property taxes in Phillipsburg, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Phillipsburg is 1.89%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Phillipsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Phillipsburg 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 Phillipsburg's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45354 zip code has the highest median property tax rate of 1.89%, while the 45354 zip code has the lowest median tax rate of 1.89%. Understanding how these cities compare with Phillipsburg 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 Phillipsburg Tax Rate
3.39%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Phillipsburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45354 | 2.48% | 2.95% | 3.39% | 3.56% | 4.11% |
Source: Ownwell
Property Tax Assessment Values Across Phillipsburg, Ohio
In Phillipsburg, 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 Phillipsburg, 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 Phillipsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,638, found in the 45354 zip code.
Average Phillipsburg Assessed Value
$79,400
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 Phillipsburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45354 | $49,518 | $64,470 | $79,400 | $95,512 | $109,592 |
Source: Ownwell
Property Tax Bills Across Phillipsburg, Ohio
In Phillipsburg, located in Montgomery County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Phillipsburg face varying tax bills depending on their property's assessed value and the local tax rate. For instance, the median home price in Phillipsburg is $79,400. The property tax rate in this area significantly impacts homeowners' annual tax bills. For the 25th percentile, tax bills are around $2,143, while those in the 75th percentile can expect to pay approximately $3,116. At the 90th percentile, tax bills rise to about $3,584. These figures indicate the considerable range in tax obligations depending on property values and assessment accuracy. Compared to the national median property tax rate of 0.99%, Phillipsburg homeowners often experience higher rates, resulting in a more substantial financial commitment. This variability underscores the importance of understanding local tax assessments and their implications for homeowners in the area.
Average Phillipsburg Tax Bill
$2,638
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Phillipsburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45354 | $1,539 | $2,143 | $2,638 | $3,116 | $3,584 |
Source: Ownwell