Springboro, Ohio Property Taxes
The median property tax rate in Springboro, OH is 1.47%, considerably higher than the national median of 0.99% yet lower than the Ohio state median of 1.80%. With the median home value in Springboro at $272,925, the typical annual property tax bill reaches $4,038, significantly exceeding the national median of $2,690. Property taxes in Springboro 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 Springboro'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 Springboro 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
Springboro, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$4,012
Ownwell’s Springboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springboro 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 Springboro, Ohio
Property taxes in Springboro, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springboro is 1.47%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Springboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springboro 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 Springboro's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45066 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Springboro 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 Springboro Tax Rate
1.47%
Average Warren County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45066 | 1.38% | 1.47% | 1.47% | 1.52% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Springboro, Ohio
In Springboro, 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 Springboro, 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 Springboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area both stand at $4,038 in zip code 45066.
Average Springboro Assessed Value
$272,925
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 Springboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45066 | $138,410 | $194,632 | $272,925 | $357,758 | $474,040 |
Source: Ownwell
Property Tax Bills Across Springboro, Ohio
In Springboro, located in Warren County, OH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the market value. For homeowners in Springboro, the median home price is $272,925. The property tax rate then applies to this assessed value to generate the tax bill. Several factors influence the final tax bill, including property location, home size, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill in Springboro is $2,824, while the 75th percentile reaches $5,332, and the 90th percentile can go up to $7,208. These variations highlight the impact of property characteristics and local tax policies on individual tax obligations. Homeowners in Springboro face a median property tax bill of $4,038, which is higher than the national median property tax rate of 0.99%. This higher tax burden can significantly affect household budgets, making it essential for homeowners to understand their property assessments and potential tax relief options.
Average Springboro Tax Bill
$4,038
Average Warren County Tax Bill
$3,873
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Springboro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45066 | $1,989 | $2,824 | $4,038 | $5,332 | $7,208 |
Source: Ownwell