Home Buying in Dayton>Question Details

Adam Fisher,  in Beavercreek, OH

How can I get a complete picture of taxes involved with owning a home in a specific county?

Asked by Adam Fisher, Beavercreek, OH Sat Apr 28, 2012

I am looking around the Bellbrook, Fairborn, Centerville, or similar areas. How can I find the lowest possible tax rates for owning a home in one of these areas?

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Your best source is the County Auditor's web site. Most county site addresses are http://www.co.countyname.oh.us. For example, go to http://www.co.montgomery.oh.us then search for the Audotors page then real estate section. The place many people get tripped up is when a property has a Homestead Exemption in place because the seller is over 65. If you have further questions, consult with your real estate professional. We're here to help if you need assistance.
0 votes Thank Flag Link Sat Apr 28, 2012
These are all great answers and I generally visit the Auditor's website for property specific information. Each municipality (city, township, village, etc.) may have their own taxes as well. Here is some information on taxes overall, not just property tax: http://irongaterealtors.com/oc_taxes.php

If you would like community profile pages please email me at joellen.boicourt@irongaterealtors. These profile pages include income tax rates, community and school information.
0 votes Thank Flag Link Sun Apr 29, 2012
Doug W has good advice. Check with the county auditors web site. However, be aware that they do reappraise the home value periodically which affects the taxes. Pending levies or assesments that have been passed but have not yet gone into affect won't show up on the web site as well, you may need to call the auditor for that information. In addition, purchasing the home could trigger a reassessment, particularly if you paid significnatly more than the previous owner or the current value according to the auditor.

So in short, it should give you an idea, but you can't depend on it 100%.
0 votes Thank Flag Link Sat Apr 28, 2012
Good answer from Doug.

But let me just say, in general, that the tax rates should be a relatively minor concern especially if they are "similar areas" with, likely, generally similar tax rates.

Example: Let's say you're looking at $200,000 houses. One has a tax rate of $1 per $100 assessed value. Another has a tax rate 10% higher--$1.10 per $100 of assessed value. The tax on the first house will be $2,000 a year, or $167 a month. The tax on the second one will be $2,200 a year, or $183 a month. You're talking about a difference of $16 a month. That's the equivalent of one Happy Meal a week at McDonald's.

People really get hung up on finding the areas with the lowest tax rates, when the dollar amount really isn't much different.

Remember, too, that you generally get what you pay for. More revenue from real estate taxes may mean better schools, more police, or better-maintained roads. Now, I'm not an advocate for sky-high taxes. But--again, in "similar areas" especially--you do get what you pay for.

Hope that helps.
0 votes Thank Flag Link Sat Apr 28, 2012
Thanks Don. I will keep that in mind. I was more or less just thinking about how much I would end up paying per year once the house was paid off. Of course those rates can fluctuate too from my understanding.
Flag Sun Apr 29, 2012
Don Tepper, Real Estate Pro in Burke, VA
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