Bourneville, Ohio Property Taxes
The median property tax rate in Bourneville, OH is 1.25%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $37,830, the typical annual property tax bill in Bourneville is $353, significantly below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Bourneville’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 Bourneville or another part of Ross County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bourneville, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Bourneville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bourneville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bourneville 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 Bourneville, Ohio
Property taxes in Bourneville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bourneville is 1.25%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Bourneville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bourneville 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 Bourneville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45617 zip code has the highest median property tax rate of 1.25%, while the same 45617 zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Bourneville 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 Bourneville Tax Rate
1.25%
Average Ross County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bourneville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45617 | 0.32% | 0.88% | 1.25% | 1.28% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Bourneville, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bourneville, Ohio. 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. 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 Bourneville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 45617 has the highest and lowest median tax bill, both at $353.
Average Bourneville Assessed Value
$37,830
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 Bourneville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45617 | $7,740 | $15,518 | $37,830 | $61,460 | $74,895 |
Source: Ownwell
Property Tax Bills Across Bourneville, Ohio
In Bourneville, Ross County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $37,830, homeowners in Bourneville can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $114, while the 75th percentile reaches $696, and the 90th percentile can be as high as $944. Comparatively, the national median property tax rate is 0.99%, which highlights that Bourneville's tax rates can be quite varied. These taxes fund essential services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to community improvements and overall quality of life.
Average Bourneville Tax Bill
$353
Average Ross County Tax Bill
$1,236
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bourneville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45617 | $53 | $114 | $353 | $696 | $944 |
Source: Ownwell