45174 Property Tax Rate

Property owners in ZIP code 45174 (Terrace Park, Ohio) pay a median of $10,001/year in property taxes on homes valued at $581,000. This translates to an effective tax rate of 1.72%, which is 39% above the Ohio state average of 1.24%.

The monthly property tax burden for a median-valued home in 45174 is approximately $833, which factors into escrow payments on mortgages. This ZIP code is located within Hamilton County. This is $7,697 more than the Ohio average of $2,304/year.

Compared to similar ZIP codes in Ohio, 45174 has lower property taxes. ZIP codes with similar effective rates include 45370 (1.72%) and 45377 (1.72%).

In Terrace Park, property taxes represent approximately 4.9% of the median household income of $205,795, providing context for the relative tax burden on homeowners in this area.

Ohio's triennial reassessment in Hamilton County is administered by the County Auditor, with your property revalued every three years and a strict 30-day appeal deadline from notice. Apply for the 2.5% Owner-Occupancy Credit on your primary residence and file for the Homestead Exemption if you're 65+ or disabled—submit both to the Hamilton County Auditor to reduce your assessed value. Visit the Hamilton County Auditor's office or website within 30 days of closing to obtain your property record, note the next reassessment date, and mark the 30-day appeal deadline so you can file a Board of Revision challenge if needed.