Property Taxes

[smytty]

Im trying to figure a estimate for when my house is done....
Its in hamilton,ohio..
161k will be the purchase price, we are having it built....
Any real estate gurus know how this is done?

[chris91]

In Butler County they charge $10 per $1k. So around $1600 per year. Got the info on Butler Counties website.

[Katmandu]

Im trying to figure a estimate for when my house is done....
Its in hamilton,ohio..
161k will be the purchase price, we are having it built....
Any real estate gurus know how this is done?It all depends on what the appraisal value of "like" properties are in your specfic area.


Appraisal and Assessment

Butler County has nearly 155,650 separate parcels of real property. It is the duty of the Auditor to see that every parcel of land and the buildings thereon are fairly and uniformly appraised and assessed for tax purposes. A general appraisal is mandated by Ohio law every six years with an update at the three year midpoint. The county does annual appraisals of new construction. The appraised value reflects the fair market value of the real estate. For taxation purposes, the owner is assessed at 35% of fair market value.


Check out the Butler County Auditor's office...

http://www.butlercountyauditor.org/index.cfm?page=RealEstate


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[smytty]

Thanks guys.. Ive been reading up on the FAQs..
I did see the 10$ per 1k... Its the Semi annual payment thats has me confused.. Im hoping its not 1600 twice a yr...:mad:

I guess when its up they will come out and appraise it...

[m347]

Don't forget the school district. That is where most of the money goes.

[smytty]

Don't forget the school district. That is where most of the money goes.
Doh yeah forgot about that one...

[redfirepearlgt]

Thanks guys.. Ive been reading up on the FAQs..
I did see the 10$ per 1k... Its the Semi annual payment thats has me confused.. Im hoping its not 1600 twice a yr...:mad:

I guess when its up they will come out and appraise it...


Don't forget the school district. That is where most of the money goes.

Yip, aside from county tax you will have local levies and other things as well that effect your cost. Don't forget HOA fees if you are building in a planned community. Like taxes you can't get around paying it. :D

So when's the street tatooing home warming party?

[Jrcmutang]

I have been hearing lately that you can get a form from the county auditors office to actually have your property taxes adjusted because of fialing home values, is this true?? I have heard that they send a letter tot he morgage company, and then they adjust escrow for the year?? Has anyone ever done this speaking of taxes. LIke for example I am looking at a house and it had a markey value of 141k on the county auditors website, but my bank just appraised it at 110k as it sits. The monthy taxes are 316 a month, or roughly about 3800.00 a year.

[bkstang95]

In Butler County they charge $10 per $1k. So around $1600 per year. Got the info on Butler Counties website.

Yeah, there are quite a few other factors that go into the final amount...so no, that $10/thousand is far from accurate...


I have been hearing lately that you can get a form from the county auditors office to actually have your property taxes adjusted because of fialing home values, is this true?? I have heard that they send a letter tot he morgage company, and then they adjust escrow for the year?? Has anyone ever done this speaking of taxes. LIke for example I am looking at a house and it had a markey value of 141k on the county auditors website, but my bank just appraised it at 110k as it sits. The monthy taxes are 316 a month, or roughly about 3800.00 a year.

Yeah, you can do this on your own. You have to fill out a form found on the auditors website...then there is a window each year that they will accept these submissions. If you do your work and pick and choose which comps you submit, you can get quite a bit of savings. They will either accept it completely or give you their revision. If you still don't agree with their revision, you can set a date at the courthouse to explain your reasoning before a board. It is definitely not a quick process, but it can be worth doing (it was in my case).

[Jrcmutang]

So is there anything that I would want to point out or wanna look for, or do I just provide them with the recent home appraisal?? How much did you end up saving if you dont mind me asking??

[bkstang95]

There is a portion on the form you fill out stating your reasoning behind your new assessed value. This is your "case". You can also go on the auditor's site and find comps to submit with your form. I submitted roughly 6-8 or so...I think the difference for me was $630ish (for the year)...so worth it IMO.

[Jrcmutang]

LOL thats 680 in mustang parts!! I just would like to see my monthly payment decrease, or at least see the morgage co. send me a check at the end of the year. I am just curious how it all works. I know I have spent over 800 so far on inspections before even buying it

[Black Horse]

Im trying to figure a estimate for when my house is done....
Its in hamilton,ohio..



Where are you building?

[smytty]

Where are you building?
In Govenors Hill....
I finally found a formula on the website... I used 164k as the value but with that price its 2575 a yr...

Chad its up off Eaton rd in Hamilton.... No Hoa fees, atleast thats what the builder told us....

[mustangjon]

that is about right on taxes for 165... the houses we were looking at in the 100 range were 1500-2000 for most locations with exception of east side, anderson ect jumped to 3k or so

[Black Horse]

Is it still Hamilton Schools? If it's Talawanda you not only have school tax on your property tax but you'll be ponying up on your income tax too....phukers snuck that one by....

Welcome to the west side!

[smytty]

Is it still Hamilton Schools? If it's Talawanda you not only have school tax on your property tax but you'll be ponying up on your income tax too....phukers snuck that one by....

Welcome to the west side!lol yeah the bastards...
We live in that little community thats full of town houses off of Twin run right now... Its consider Hamilton Utilities but Talawanda schools, so my daughter is there now...
They are letting us keep her there if we would like...

Yeah i have extra money taken out just for the school tax...

[Bman]

Im on the other side of town. Hamilton address fairfield township. I pay 3180 a year on a 190k home.

[redfirepearlgt]

In Govenors Hill....
I finally found a formula on the website... I used 164k as the value but with that price its 2575 a yr...

Chad its up off Eaton rd in Hamilton.... No Hoa fees, atleast thats what the builder told us....

SO WHEN IS THE STREET TATTOO PARTY AND HOME WARMING??? Was that loud enough? LOL!

[mustang8998]

Is it still Hamilton Schools? If it's Talawanda you not only have school tax on your property tax but you'll be ponying up on your income tax too....phukers snuck that one by....

Welcome to the west side!

So, you have to pay income tax, for the school?

You don't pay Hamilton city income tax too, do you? I have to pony up extra, because Sharonville isn't the same rate, as Hamilton.

Smytty, I live in Highland Park. My tax is $1092 (half) on $138K.

[05yellowgt]

Find homes in your neighborhood that are comporable to the one you are building. Look for the same exterior features (brick, siding, etc.) and the same number of bedrooms, bathrooms, square footage, basement (if your house has one). Once you have found that (zillow.com is good for this) go to the county auditor site and search the properties you identified and see what their assessed value is and use that to estimate your value.

Now you need to go to the auditor website and find the effective tax rate for your area.

Once you have those, do the following

multiply your assessed value by .35

Take the above value and divide by 1000

multiple the above value by the effective tax rate

take the above value and multiply by .875

This will be your approximate yearly tax


We are going to be building a house in Warren county near Atrium Medical Center. It is in TurtleCreek Township with Lebanon Schools so it is in Warren County Tax Disctrict 52 which has an effective tax rate of 55.28 I was just doing the math the other day and came up with the following.

264,000*.35= 92,400
92,400/1000= 92.4
92.4*55.28= 5,107
5,107*.875= $4,469 annual property tax

[smytty]

Find homes in your neighborhood that are comporable to the one you are building. Look for the same exterior features (brick, siding, etc.) and the same number of bedrooms, bathrooms, square footage, basement (if your house has one). Once you have found that (zillow.com is good for this) go to the county auditor site and search the properties you identified and see what their assessed value is and use that to estimate your value.

Now you need to go to the auditor website and find the effective tax rate for your area.

Once you have those, do the following

multiply your assessed value by .35

Take the above value and divide by 1000

multiple the above value by the effective tax rate

take the above value and multiply by .875

This will be your approximate yearly tax


We are going to be building a house in Warren county near Atrium Medical Center. It is in TurtleCreek Township with Lebanon Schools so it is in Warren County Tax Disctrict 52 which has an effective tax rate of 55.28 I was just doing the math the other day and came up with the following.

264,000*.35= 92,400
92,400/1000= 92.4
92.4*55.28= 5,107
5,107*.875= $4,469 annual property taxCool ty... Ill check this out tonight...

CHAD sorry i missed that ? lol.. Right now the date is end of Aug.. Of course depending on weather that could change.....

[95redstang]

I paid $159,000 for my house in fairfield 2005. Taxes were $1600 a year... Now they are $2200..so that $10thing is off

[05yellowgt]

I paid $159,000 for my house in fairfield 2005. Taxes were $1600 a year... Now they are $2200..so that $10thing is off The $10 per thousand is right, it just doesn't also include the other levies like for school, fire, police, library, etc.

[mustang8998]

You might as well say that the $10/thousand formula is right, plus or minus 20%.