Washington Township, Ohio Property Taxes
The median property tax rate in Washington Township, OH is 2.57%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Washington Township being $163,240, the typical annual property tax bill reaches $4,011, far exceeding the national median of $2,690. Property taxes in Washington Township 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 Washington Township'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 Washington Township 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
Washington Township, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.57%
Estimate Property Tax Bill
$4,195
Ownwell’s Washington Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington Township 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 Washington Township, Ohio
Property taxes in Washington Township, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington Township is 2.57%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Washington Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington Township 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 Washington Township's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45458 zip code has the highest median property tax rate of 2.57%, while the 45459 zip code has the lowest median tax rate of 2.56%. Understanding how these areas compare with Washington Township 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 Washington Township Tax Rate
2.57%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington Township, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45458 | 2.17% | 2.56% | 2.57% | 2.57% | 2.62% |
| 45459 | 2.23% | 2.56% | 2.56% | 2.56% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Washington Township, Ohio
In Washington Township, 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. Assessment notices in Washington Township 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. The highest median tax bill in the area is $4,742 in zip code 45459, while the lowest is $3,799 in zip code 45458. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Washington Township, Ohio
Source: Ownwell
$4,930
$194,135
$383,340
Average Washington Township Assessed Value
$163,240
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 Washington Township, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45458 | $123,850 | $134,540 | $153,990 | $172,245 | $183,088 |
| 45459 | $172,067 | $177,702 | $186,530 | $205,002 | $219,117 |
Source: Ownwell
Property Tax Bills Across Washington Township, Ohio
In Washington Township, Montgomery County, OH, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the home's market value, improvements, and local levies all play a role in the final tax amount. For homeowners in Washington Township, the median home price is $163,240. Property tax bills can vary significantly, with the 25th percentile tax bill at $3,502 and the 75th percentile tax bill at $4,594. At the 90th percentile, the tax bill reaches $4,841. The highest median tax bill in the area is $4,742 in the 45459 zip code, while the lowest is $3,799 in the 45458 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Washington Township may find their property tax bills to be higher, reflecting the local economic conditions and funding requirements for community services.
Average Washington Township Tax Bill
$4,011
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington Township, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45458 | $3,000 | $3,351 | $3,799 | $4,417 | $4,659 |
| 45459 | $4,139 | $4,506 | $4,742 | $4,831 | $5,614 |
Source: Ownwell