Mason, Ohio Property Taxes
The median property tax rate in Mason, OH is 1.66%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Mason at $290,660, the typical annual property tax bill reaches $5,033, exceeding the national median of $2,690. Property taxes in Mason are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mason'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 Mason 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
Mason, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$4,825
Ownwell’s Mason Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mason with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mason 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 Mason, Ohio
Property taxes in Mason, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mason is 1.66%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mason set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mason 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 Mason's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45040 zip code has the highest median property tax rate of 1.66%, while the same zip code also has the lowest median tax rate of 1.66%. Understanding how these cities compare with Mason 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 Mason Tax Rate
1.66%
Average Warren County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mason, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45036 | N/A | N/A | N/A | N/A | N/A |
| 45040 | 1.66% | 1.66% | 1.66% | 1.79% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Mason, Ohio
In Mason, 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 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 Mason, 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 Mason helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Mason is 45040, both at $5,033.
Average Mason Assessed Value
$290,660
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 Mason, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45036 | N/A | N/A | N/A | N/A | N/A |
| 45040 | $137,980 | $191,622 | $290,795 | $402,545 | $533,415 |
Source: Ownwell
Property Tax Bills Across Mason, Ohio
In Mason, located in Warren County, OH, property tax bills are determined by a combination of the property's assessed value and the local tax rate. The assessed value is a percentage of the property's market value, which is calculated by the county assessor. For homeowners in Mason, the median home price is $290,660. The tax rate applied to this assessed value is then used to calculate the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For example, the tax bill at the 25th percentile is $3,260, while at the 75th percentile, it rises to $6,903. At the 90th percentile, homeowners can expect to pay around $9,249 annually. These variations highlight how differences in property characteristics and valuations impact tax obligations. Compared to the national median property tax rate of 0.99%, Mason’s property tax bills can vary significantly, affecting homeowners' financial planning and overall cost of living.
Average Mason Tax Bill
$5,033
Average Warren County Tax Bill
$3,873
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mason, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45036 | N/A | N/A | N/A | N/A | N/A |
| 45040 | $2,309 | $3,260 | $5,033 | $6,903 | $9,249 |
Source: Ownwell