Roanoke, Ohio Property Taxes
The median property tax rate in Roanoke, OH is 2.91%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Roanoke, the typical annual property tax bill reaches $3,756, exceeding the national median of $2,690. Property taxes in Roanoke 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 Roanoke'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 Roanoke 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
Roanoke, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.91%
Estimate Property Tax Bill
$3,759
$3,488
Ownwell’s Roanoke Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Roanoke with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Roanoke to provide an accurate property tax bill estimate. This valuable tool offers insights into potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Roanoke, Ohio
Property taxes in Roanoke, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roanoke stands at 1.35%, which is higher than both the Ohio state median of 1.31% and the U.S. national median of 0.99%. Local government entities within Roanoke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roanoke 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 Roanoke's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45659 zip code has the highest median property tax rate of 1.35%, while the 45659 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Roanoke provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roanoke Tax Rate
2.91%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roanoke, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76262 | 2.91% | 2.91% | 2.91% | 2.91% | 2.91% |
Source: Ownwell
Property Tax Assessment Values Across Roanoke, Ohio
In Roanoke, 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 local 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. Assessment notices in Roanoke 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 Roanoke helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 76262, with a median tax bill of $3,756.
Average Roanoke Assessed Value
$129,170
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 Roanoke, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76262 | $129,170 | $129,170 | $129,170 | $129,170 | $129,170 |
Source: Ownwell
Property Tax Bills Across Roanoke, Ohio
In Roanoke, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the home's market value. In Montgomery County, where Roanoke is located, the median home price is $129,170. The property tax rate is then applied to this assessed value to determine the tax bill. For instance, if the assessed value is 35% of the market value, a home valued at $129,170 would have an assessed value of approximately $45,210. The tax rate in Roanoke can vary, but the median property tax bill is $3,756, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing their annual expenses, potentially affecting their overall budget and financial planning. Factors such as local government budgets, school funding, and public services also influence the final tax rate, making it essential for homeowners to stay informed about changes in their property tax assessments.
Average Roanoke Tax Bill
$3,756
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Roanoke, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76262 | $3,756 | $3,756 | $3,756 | $3,756 | $3,756 |
Source: Ownwell