Middletown, Ohio Property Taxes
The median property tax rate in Middletown, OH is 1.74%, considerably higher than the national median of 0.99% but slightly lower than Ohio's state median of 1.80%. With a median home value of $143,970, the typical annual property tax bill in Middletown reaches $2,258, which is below the national median of $2,690. Property taxes in Middletown 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 Middletown'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 Middletown 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
Middletown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$2,505
$2,325
Ownwell’s Middletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middletown 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 Middletown, Ohio
Property taxes in Middletown, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middletown is 1.74%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Middletown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middletown 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 Middletown's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45005 zip code has the highest median property tax rate of 1.78%, while the 45044 zip code has the lowest median tax rate of 1.53%. Understanding how these cities compare with Middletown 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 Middletown Tax Rate
1.74%
Average Warren County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middletown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45005 | 1.58% | 1.59% | 1.78% | 1.93% | 1.97% |
| 45042 | 1.73% | 1.74% | 1.74% | 1.78% | 1.78% |
| 45044 | 1.27% | 1.52% | 1.53% | 1.58% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Middletown, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Middletown, 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 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. Assessment notices in Middletown 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, zip code 45042 has the highest median tax bill at $2,486, while zip code 45005 has the lowest at $1,533. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middletown Assessed Value
$143,970
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 Middletown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45005 | $1,026 | $6,605 | $58,720 | $159,890 | $235,630 |
| 45042 | $1,720 | $2,120 | $146,020 | $203,095 | $234,110 |
| 45044 | $87,130 | $123,950 | $144,045 | $165,378 | $226,992 |
Source: Ownwell
Property Tax Bills Across Middletown, Ohio
In Middletown, Warren County, OH, property tax bills are determined by a combination of the assessed value of the home and the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by the county assessor. For instance, with a median home price of $143,970, homeowners can expect varying tax bills based on their property's assessed value and specific local tax rates. Several factors influence the final tax bill, including the property's location within different ZIP codes. For example, the highest median tax bill in the area is $2,486 in ZIP code 45042, while the lowest is $1,533 in ZIP code 45005. Homeowners in the 25th percentile pay around $836, whereas those in the 75th percentile face bills up to $3,282. At the 90th percentile, tax bills can reach $4,037. These property taxes fund essential community services such as schools, emergency services, and infrastructure maintenance, directly impacting the quality of life for residents. Understanding these factors can help homeowners anticipate and manage their property tax obligations more effectively.
Average Middletown Tax Bill
$2,258
Average Warren County Tax Bill
$3,873
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Middletown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45005 | $41 | $701 | $1,533 | $3,043 | $4,654 |
| 45042 | $30 | $38 | $2,486 | $3,535 | $4,076 |
| 45044 | $1,268 | $1,771 | $2,230 | $2,668 | $3,636 |
Source: Ownwell