Bainbridge, Ohio Property Taxes
The median property tax rate in Bainbridge, Ohio is 1.31%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Bainbridge at $56,830, the typical annual property tax bill comes to $764, well below the national median of $2,690. Property taxes in Bainbridge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Bainbridge's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bainbridge or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bainbridge, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$744
Ownwell’s Bainbridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bainbridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bainbridge 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 Bainbridge, Ohio
Property taxes in Bainbridge, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bainbridge is 1.31%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Bainbridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bainbridge 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 Bainbridge's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45612 zip code has the highest median property tax rate of 1.31%, while the 45612 zip code has the lowest median tax rate of 1.31%. Understanding how these cities compare with Bainbridge provides valuable insights into the varying tax landscape across Ross County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bainbridge Tax Rate
1.31%
Average Ross County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bainbridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45612 | 0.98% | 1.25% | 1.31% | 1.43% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Bainbridge, Ohio
In Bainbridge, 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 Ross 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 Bainbridge, 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 Bainbridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bainbridge is $56,830, with tax bills ranging from $213 at the 25th percentile to $2,614 at the 90th percentile. The highest and lowest median tax bills are both $764 in the 45612 zip code.
Average Bainbridge Assessed Value
$56,830
Average Ross County Assessed Value
$96,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bainbridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45612 | $4,000 | $15,380 | $56,830 | $126,755 | $212,340 |
Source: Ownwell
Property Tax Bills Across Bainbridge, Ohio
In Bainbridge, located in Ross County, OH, property tax bills are calculated based on the assessed value of a home rather than its market value. The local tax rate is applied to the assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and any improvements made. For example, the median home price in Bainbridge is $56,830, and homeowners can expect varying tax bills depending on their property's specifics. Tax bills in Bainbridge show a significant range. At the 25th percentile, homeowners pay around $213, while those at the 75th percentile see bills closer to $1,615. For the top 10% of properties, tax bills can reach up to $2,614. This variability affects homeowners differently, with higher-valued properties bearing a more substantial tax burden. Compared to the national median property tax rate of 0.99%, Bainbridge's rates reflect local economic conditions and funding needs, impacting homeowners' financial planning and property-related decisions.
Average Bainbridge Tax Bill
$764
Average Ross County Tax Bill
$1,236
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bainbridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45612 | $65 | $213 | $764 | $1,615 | $2,614 |
Source: Ownwell