Piqua, Ohio Property Taxes
The median property tax rate in Piqua, OH is 3.07%, considerably higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Piqua at $86,320, the typical annual property tax bill reaches $2,651, just shy of the national median of $2,690. Property taxes in Piqua are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Piqua'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 Piqua 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
Piqua, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.07%
Estimate Property Tax Bill
$2,650
Ownwell’s Piqua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Piqua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Piqua 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 Piqua, Ohio
Property taxes in Piqua, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Piqua is 1.34%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Piqua set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piqua 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 Piqua's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45356 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Piqua provides valuable insights into the varying tax landscape across Miami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Piqua Tax Rate
3.07%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piqua, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45356 | 3.07% | 3.07% | 3.07% | 3.07% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Piqua, Ohio
In Piqua, 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 Piqua, 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. For instance, the median home price in Piqua is $86,320, with the median tax bill being $2,651. 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 Piqua helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Piqua Assessed Value
$86,320
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 Piqua, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45356 | $86,320 | $86,320 | $86,320 | $86,320 | $86,320 |
Source: Ownwell
Property Tax Bills Across Piqua, Ohio
In Piqua, Montgomery County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this figure is used to calculate the tax bill. Several factors contribute to the final tax bill, including the local tax rate and any applicable exemptions or deductions. Homeowners in Piqua face a median property tax bill of $2,651, which is notably higher than the national median property tax rate of 0.99%. This means that even for homes at the 25th, 75th, and 90th percentiles, the tax bill remains consistent at $2,651. This uniformity can significantly impact homeowners, particularly when compared to other regions where property taxes might be lower. The relatively high property tax rate in Piqua underscores the importance of understanding local property tax laws and potential exemptions to manage financial obligations effectively.
Average Piqua Tax Bill
$2,651
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Piqua, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45356 | $2,651 | $2,651 | $2,651 | $2,651 | $2,651 |
Source: Ownwell