Example of Preble County Property Tax Calculation
In Preble County, the property tax calculation is based on the assessed value of the property. The assessed value is determined by the county auditor's office and is equal to 35% of the property's market value.
To calculate the property tax, the assessed value is multiplied by the current tax rate. For example, if the assessed value of a property is $100,000 and the tax rate is 1.5%, the property tax would be $1,500 per year.
It's important to note that property tax rates can vary based on factors such as school district, city, and township. Homeowners can check their specific tax rate on the Preble County Auditor's website.
Overall, understanding how property tax is calculated can help homeowners budget for their expenses and plan for future financial goals.
If you want appeal your property tax assessment - contact your local tax assessor.
Preble County Property Tax Rates
The Preble County Property Tax rates for the year 2021 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $1.07 |
| County Health | $0.25 |
| County Children | $0.50 |
| County Mental Health | $0.25 |
| County Board of DD | $0.40 |
| County Senior Serv. | $0.55 |
| Soil & Water Dist. | $0.05 |
| Park District | $0.25 |
| Municipal Taxing Dist | varies |
These rates are subject to change each year, based on the needs of the county and its community. It is important to stay up-to-date on any changes to property tax rates in Preble County.
Who sets property tax rates in Preble County ?
Who Sets Property Tax Rates in Preble County?
In Preble County, property tax rates are set by different local government entities such as:
| Entity | Role |
|---|---|
| Preble County Commissioners | They set the tax rates for the county government, which includes funding for county services such as roads, law enforcement, and public health. |
| Preble County Board of Education | They determine the tax rates for school districts in the county, which includes funding for public schools and education-related expenses. |
| City and Township Governments | They set the tax rates for local government services such as police and fire departments, parks and recreation, and road maintenance. |
When are Property Tax Rates Set?
Property tax rates are typically set annually, with the specific timeline varying depending on the local government entity. In Preble County, the property tax rates are usually set during the budget approval process, which takes place in the late summer or early fall. Property owners in Preble County receive their tax bills in January and have until mid-January to pay their property taxes.
Homestead exemptions in Preble County ?
In Preble County, Ohio, there are several Homestead exemptions and deductions available. Here's a breakdown of each exemption and deduction, along with their eligibility requirements, exemption amount, and important notes to keep in mind:
Homestead Exemptions and Deductions in Preble County, Ohio
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Homestead Exemption | Must be 65 years or older, or totally and permanently disabled | Up to $25,000 | Applies to the first $25,000 of assessed property value |
| Homestead Exemption for Military Veterans | Must be a veteran who served during a period of war or conflict | Up to $25,000 | Applies to the first $25,000 of assessed property value |
| Homestead Exemption for Surviving Spouses of Military Veterans | Must be the surviving spouse of a veteran who served during a period of war or conflict | Up to $25,000 | Applies to the first $25,000 of assessed property value |
| Homestead Exemption for Surviving Spouses of First Responders | Must be the surviving spouse of a first responder who died in the line of duty | Up to $25,000 | Applies to the first $25,000 of assessed property value |
| Homestead Exemption for Disabled Veterans | Must be a veteran who has a service-connected disability | Up to $50,000 | Applies to the first $50,000 of assessed property value |
| Homestead Exemption for Disabled Surviving Spouses of Veterans | Must be the surviving spouse of a veteran who had a service-connected disability | Up to $50,000 | Applies to the first $50,000 of assessed property value |
| Homestead Exemption for the Blind or Disabled | Must be blind or totally and permanently disabled | Up to $25,000 | Applies to the first $25,000 of assessed property value |
| Homestead Exemption for Agricultural Land | Must own and use the land for agricultural purposes | Up to 2 acres | Applies to the first 2 acres of land |
| Owner-Occupied Property Deduction | Must own and occupy the property as a primary residence | Up to $45,000 | Applies to the first $45,000 of assessed property value |
| Mortgage Deduction | Must have a mortgage on the property | Up to $3,000 | Applies to mortgage interest and/or points |
| Personal Property Deduction | Must own personal property used for business or trade | Up to $20,000 | Applies to the first $20,000 of assessed value |
It's important to note that eligibility requirements and exemption amounts may vary by year and are subject to change. Property owners in Preble County should consult with their local tax assessor or county auditor for the most up-to-date information on Homestead exemptions and deductions.
When is Preble County Property Tax due ?
In Preble County, Ohio, property taxes are typically due on the first day of January each year. However, taxpayers have the option to pay their taxes in two installments. The first installment is due on the first day of February and the second installment is due on the first day of July.
There are several methods for paying property taxes in Preble County. Taxpayers can pay online through the Treasurer's website, in person at the Treasurer's Office or at select banks, or by mail. Payments made in person or by mail can be made with either a check or money order.
Here are the payment methods available for Preble County Property Taxes:
| Method | Description |
|---|---|
| Online | Pay through the Treasurer's website using an electronic check or credit/debit card |
| In Person | Pay at the Treasurer's Office or select banks using cash, check, or money order |
| Mail a check or money order to the Treasurer's Office |
It's important to note that payments made after the due dates will incur penalties and interest charges. Taxpayers can contact the Treasurer's Office for more information or to make payment arrangements.
If you have more questions - contact your local tax collector.
How is Preble County Property Tax penalty calculated ?
Preble County Property Tax Penalty Calculation
When a homeowner fails to pay their property taxes on time, they incur penalties and interest charges. The penalty is calculated based on the amount of unpaid taxes and the length of time they are overdue.
To calculate the penalty, the following formula is used:
Unpaid taxes x Penalty rate x Number of days past due = Penalty amount
In Preble County, the penalty rate is 10% per annum. This means that for every year the taxes are overdue, an additional 10% of the unpaid amount is added to the penalty.
For example, if a homeowner owes $1,000 in property taxes and the taxes are already 30 days past due, the penalty amount can be calculated as follows:
$1,000 x 10% x 30 days = $30 penalty amount
In addition to penalties, the homeowner also incurs interest charges. The interest rate in Preble County is 1.5% per month or 18% per annum. The interest is calculated daily based on the unpaid taxes and the number of days past due.
To avoid penalties and interest charges, homeowners should pay their property taxes on time. If a homeowner is unable to pay their property taxes on time, they can contact the Preble County Treasurer's office to discuss payment options and potential penalties.
Summary:
Penalty rate: 10% per annum Interest rate: 1.5% per month or 18% per annum Calculation: Unpaid taxes x Penalty rate x Number of days past due = Penalty amount Example: $1,000 x 10% x 30 days = $30 penalty amount
We recommend contacting the Preble County Tax Office or a local tax professional for the most up-to-date and accurate information.