Oak Hill, Ohio Property Taxes
The median property tax rate in Oak Hill, OH is 0.79%, which is notably lower than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value of $45,400 in Oak Hill, the typical annual property tax bill amounts to $291, significantly less than the national median of $2,690. Property taxes in Oak Hill are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Oak Hill's property tax system, homeowners and real estate investors can explore available exemptions and identify opportunities for reductions, leading to substantial annual savings. Whether you're in the heart of Oak Hill or elsewhere in Scioto County, gaining insight into the local property tax structure can yield financial benefits.
Last Updated June 14, 2024
Oak Hill, 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 Oak Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oak Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oak Hill 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 Oak Hill, Ohio
Property taxes in Oak Hill, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oak Hill is 0.79%, lower than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Oak Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oak Hill 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 Oak Hill's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45656 zip code has the highest median property tax rate of 0.79%, while the 45656 zip code has the lowest median tax rate of 0.79%. Understanding how these cities compare with Oak Hill provides valuable insights into the varying tax landscape across Scioto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oak Hill Tax Rate
0.79%
Average Scioto County Tax Rate
1.59%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oak Hill, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45656 | 0.67% | 0.71% | 0.79% | 1.37% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Oak Hill, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oak Hill, 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 Scioto 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 Oak Hill, 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. For example, the median home price in Oak Hill is $45,400, with tax bills ranging from $218 at the 25th percentile to $2,664 at the 90th percentile. Both the highest and lowest median tax bills are $291, located within the 45656 zip code. By understanding 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 Oak Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oak Hill Assessed Value
$45,400
Average Scioto County Assessed Value
$71,410
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oak Hill, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45656 | $15,016 | $26,410 | $45,400 | $229,985 | $340,736 |
Source: Ownwell
Property Tax Bills Across Oak Hill, Ohio
In Oak Hill, located in Scioto County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Oak Hill is $45,400. Property tax rates are then applied to this assessed value to determine the annual tax bill. Various factors, including property size, location, and any applicable exemptions, influence the assessed value. For example, tax bills in Oak Hill range significantly, with the 25th percentile at $218 and the 75th percentile reaching $1,774, while the 90th percentile can be as high as $2,664. This variation reflects differences in property values and applicable exemptions among homeowners. Compared to the national median property tax rate of 0.99%, Oak Hill's property tax rates can vary widely, impacting homeowners differently based on their specific circumstances. Homeowners should be aware of these factors as they directly affect their annual financial obligations.
Average Oak Hill Tax Bill
$291
Average Scioto County Tax Bill
$1,073
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Oak Hill, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45656 | $174 | $218 | $291 | $1,774 | $2,664 |
Source: Ownwell