Botkins, Ohio Property Taxes
The median property tax rate in Botkins, OH is 1.50%, 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 Botkins at $142,065, the typical annual property tax bill is $2,045, falling below the national median of $2,690. Property taxes in Botkins are calculated based on the tax assessed value, which often comes in lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Botkins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Botkins 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
Botkins, 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 Botkins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Botkins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Botkins 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 Botkins, Ohio
Property taxes in Botkins, Ohio, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Botkins is 1.50%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Botkins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Botkins 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 Botkins' effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45306 has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these areas compare with Botkins provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Botkins Tax Rate
1.50%
Average Shelby County Tax Rate
1.56%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Botkins, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45306 | 1.10% | 1.37% | 1.50% | 1.57% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Botkins, Ohio
In Botkins, 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 Shelby 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 Botkins, 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 Botkins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Botkins is $2,045, with the highest and lowest median tax bills both being in the 45306 zip code.
Average Botkins Assessed Value
$142,065
Average Shelby County Assessed Value
$119,350
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Botkins, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45306 | $75,588 | $106,252 | $142,065 | $221,908 | $358,982 |
Source: Ownwell
Property Tax Bills Across Botkins, Ohio
In Botkins, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the home's size, location, and condition. In Shelby County, the median home price stands at $142,065, with tax bills varying significantly across different percentiles. For instance, homeowners at the 25th percentile face an annual tax bill of $1,525, while those at the 75th percentile pay around $3,083. The 90th percentile sees tax bills as high as $4,532. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners in Botkins should be aware that while their tax rate may be influenced by state and county regulations, their individual tax burden is directly tied to their property's assessed value. Understanding this process can help homeowners better anticipate and manage their annual tax expenses.
Average Botkins Tax Bill
$2,045
Average Shelby County Tax Bill
$1,867
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Botkins, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45306 | $775 | $1,525 | $2,045 | $3,083 | $4,532 |
Source: Ownwell