Brookville, Ohio Property Taxes
The median property tax rate in Brookville, OH is 1.60%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Brookville at $132,250, the typical annual property tax bill reaches $1,857, falling below the national median of $2,690. Property taxes in Brookville 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 Brookville'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 Brookville 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
Brookville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$2,116
Ownwell’s Brookville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brookville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brookville 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 Brookville, Ohio
Property taxes in Brookville, Ohio, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookville is 1.60%, significantly higher than the U.S. national median of 0.99%. Local government entities within Brookville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookville 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 Brookville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45309 zip code has the highest median property tax rate of 1.60%, while the same zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with Brookville provides valuable insights into the varying tax landscape across Preble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brookville Tax Rate
1.60%
Average Preble County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45309 | 0.87% | 1.33% | 1.60% | 1.62% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Brookville, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Brookville, Ohio. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Preble 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 Brookville, 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. The median home price in Brookville is $132,250, with the 25th percentile tax bill at $1,629 and the 75th percentile at $2,131. The highest and lowest median tax bills are both $1,857 in the 45309 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brookville Assessed Value
$132,250
Average Preble County Assessed Value
$108,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brookville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45309 | $51,940 | $109,775 | $132,250 | $166,475 | $223,060 |
Source: Ownwell
Property Tax Bills Across Brookville, Ohio
Property tax bills in Brookville, located in Preble County, Ohio, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Brookville can expect their tax bills to vary significantly depending on their property's assessed value and the local tax rate. For instance, the median home price in Brookville is $132,250. Property tax bills can range widely, with the 25th percentile at $1,629 and the 75th percentile reaching $2,131. The 90th percentile of tax bills goes up to $3,207. These figures indicate that homeowners with higher-valued properties will pay more in property taxes. Compared to the national median property tax rate of 0.99%, Brookville's property tax rates can significantly impact household budgets. Understanding these factors helps homeowners anticipate their annual tax obligations and plan accordingly.
Average Brookville Tax Bill
$1,857
Average Preble County Tax Bill
$1,629
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45309 | $996 | $1,629 | $1,857 | $2,131 | $3,207 |
Source: Ownwell