Goshen, Ohio Property Taxes
The median property tax rate in Goshen, Ohio is 1.56%, 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 Goshen at $148,520, the typical annual property tax bill reaches $2,106, which is below the national median of $2,690. Property taxes in Goshen are calculated based on the tax assessed value, typically lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Goshen'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 Goshen 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
Goshen, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$2,317
$2,150
Ownwell’s Goshen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goshen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goshen 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 Goshen, Ohio
Property taxes in Goshen, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goshen is 1.56%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Goshen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goshen 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 Goshen's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45122 zip code has both the highest and lowest median property tax rate of 1.56%. Understanding how these areas compare with Goshen provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goshen Tax Rate
1.56%
Average Warren County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goshen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45122 | 1.15% | 1.19% | 1.56% | 1.72% | 1.75% |
Source: Ownwell
Property Tax Assessment Values Across Goshen, Ohio
In Goshen, 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 Warren County Auditor 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 Goshen, 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 Goshen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Goshen is $148,520, with annual property tax bills ranging from $1,614 at the 25th percentile to $5,344 at the 90th percentile. The zip code 45122 has both the highest and lowest median tax bill, standing at $2,106.
Average Goshen Assessed Value
$148,520
Average Warren County Assessed Value
$234,580
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goshen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45122 | $82,920 | $112,088 | $148,520 | $228,952 | $354,870 |
Source: Ownwell
Property Tax Bills Across Goshen, Ohio
In Goshen, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is typically a percentage of the home's market value. For example, with a median home price of $148,520 in Goshen, the property tax rate is applied to this assessed value to determine the final tax bill. Factors that influence the tax bill include the home's location, its assessed value, and any applicable exemptions or deductions. Homeowners in Goshen can expect property tax bills to vary significantly. The 25th percentile of tax bills is around $1,614, while the 75th percentile is approximately $3,236. At the 90th percentile, tax bills can reach up to $5,344. These variations can significantly impact household budgets, making it crucial for homeowners to understand their property's assessed value and the applicable tax rate. Compared to the national median property tax rate of 0.99%, Goshen's property taxes can be relatively high, affecting the overall affordability of homeownership in the area.
Average Goshen Tax Bill
$2,106
Average Warren County Tax Bill
$3,873
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Goshen, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45122 | $1,136 | $1,614 | $2,106 | $3,236 | $5,344 |
Source: Ownwell