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(The
following information was excerpted from an
Enquirer article published on February 26,
2006.)
A glossary of key
terms
What is a mill? A mill
is $1 for each $1,000 of assessed value.
Now, remember, assessed value and market
value aren't the same thing. Neither are
gross millage and effective millage.
Here are several
key terms that you may see on your
property-tax bill:
Market value: The
market value of property is
determined by periodic reappraisals done by
the county auditor. It is not necessarily
the most recent sale price of a home.
Assessed value:
This number is the base of a property
tax bill. In Ohio, assessed value is
set at 35 percent of market value.
Full tax rate or gross
millage: This figure reflects the sum
total of all property taxes
due for your home, including general county,
city and village funds plus special levies
for schools, emergency services, senior
services, children's services, etc. This
figure is shown in mills, not dollars.
Effective tax rate or
effective millage: This is the tax
rate you actually pay. It reflects gross
millage less reduction factors. This figure
is shown in mills, not dollars.
Reduction factors:
Without these, the amount of money collected
by a tax levy would grow unchecked as
property values grow, which often
isn't what the voters intended. So, to keep
a level amount of money coming in from a
tax levy, local governments use formulas
to reduce the "gross" millage to an
"effective" millage. Reduction factors are
calculated by county auditors' offices and
can vary among communities. Note: Other
credits can apply to a homeowner's actual
bill even after the effective millage is
set.
2.5 percent and 10
percent rollbacks: In Ohio,
owner-occupied homes get a 2.5 percent break
beyond the standard reduction factor; a 10
percent rollback also applies to all
residential property.
Sales-tax credit:
Property-tax credit, in Hamilton
County only, resulting from the March
19, 1996, voter approval of the stadium
sales tax.
Homestead (reduction):
Another credit given to residential
property owners who meet certain age,
income and other requirements. Homeowners
may apply for the credit between the first
Monday in January and the first Monday in
June of each year.
ABOUT THIS PROJECT:
EXPLAINING THE NUMBERS
What they say
Unless you happened to
keep 10 years' worth of property-tax
bills in a file drawer, measuring how much
your local taxes have changed in the
past decade isn't simple.
For example, Hamilton County
has 117 taxing districts, each of which
charges a unique tax rate based on
the city, village, township involved and the
various school districts serving those
locations. Butler County has 58 districts;
Warren County has 68; and Clermont has 53.
Across those
jurisdictions, voters approved numerous new
or increased tax levies in the past
10 years.
The tables and charts in this
report reflect tax rates for selected
communities collected from the Ohio
Department of Taxation and county
governments. Similar rates are available for
all Southwestern Ohio communities through
the Department of Taxation.
What they don't say
However, what people actually
pay in property taxes is far
more complicated.
The dollar figures in this
report reflect what the owner of a $200,000
home would pay, after accounting for various
reduction factors and other credits.
Such factors vary from
community to community, and in many cases
dollar amounts for older data aren't
available for comparison.
Also, the changes in
tax rates for a community do not
necessarily reflect the changes that can
influence a homeowner's tax bill. For
example, even though many Hamilton County
communities have lower effective property-tax
rates now than they did a decade ago, most
residents are still getting bigger tax
bills. That mostly reflects the effect of
rising property values during the
past 10 years.
Check on your property
taxes:
Although property-tax
bills come twice a year in Ohio, you can
look up your property values or
taxes at any time via the Internet. For
those without Internet access, the same
information is available by telephone during
regular business hours.
Warren County:
www.co.warren.oh.us/auditor/property_search/index.htm
or (513) 695-1235.
VIEW A LIST OF AREA TAX
CHANGES AT CINCINNATI.COM. KEYWORD: TAXES
PROPERTY
Warren and Butler county
politicians want changes in state law to
allow property-tax freezes for
seniors.
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