Troy, Montgomery County, Ohio Property Taxes

Name: Property Tax Bills Across Troy, Montgomery County, Ohio
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Troy, OH effective property tax rate: 3.08%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Troy, OH home value: $204,170
Median annual Troy, OH tax bill: $6,292, $3,892 higher than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

Property taxes in Troy, OH are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Troy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Troy, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Troy, Montgomery County, Ohio Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.08%

Estimate Property Tax Bill

$6,288

$5,835

Ownwell’s Troy Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Troy with just two data points. By entering your property's estimated assessed value, our calculator applies Troy's median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Miami County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Troy, Montgomery County, Ohio

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In Troy, Miami County, Ohio, the effective property tax rate is significantly higher than the national median of 1.02%. This means residents in Troy are likely paying more in property taxes compared to the average U.S. homeowner. It’s important to note that Ohio's median property tax rate stands above the national average, reflecting a trend in certain regions where property taxes are a primary source of funding for local services.

Comparing Troy's property tax landscape with other cities in Ohio can provide valuable insights for homeowners. Understanding these differences can help residents make informed decisions about property ownership and potential tax appeals.

Property Tax Rates Across Troy, Montgomery County, Ohio

Source: Ownwell

1.27%

2.33%

3.39%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Troy Tax Rate

3.08%

Median Effective Montgomery County Tax Rate

2.62%

Median Effective Ohio Tax Rate

1.80%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Troy, Montgomery County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
45373	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Troy, Montgomery County, Ohio

When examining property taxes in Troy, OH, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Montgomery County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Montgomery County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Troy. For example, the median home price in Troy is $204,170, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Troy, Montgomery County, Ohio

Source: Ownwell

$4,930

$124,385

$243,840

Median Troy Market Value

$204,170

Median Montgomery County Market Value

$98,910

Median Ohio Market Value

$133,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Troy, Montgomery County, Ohio

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
45373	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Troy, Montgomery County, Ohio

In Troy, located in Montgomery County, Ohio, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is determined by the county auditor. In Troy, the median home price is $204,170. The tax bill for many homeowners, including those at the 25th, 75th, and 90th percentiles, is $6,292, significantly higher than the national median property tax bill of $2,400. This discrepancy can place a considerable financial burden on homeowners, especially when the national median property tax rate is 1.02%. However, Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing your property’s assessment and comparing it to similar properties, Ownwell can identify potential savings. Their expertise in navigating the appeals process can lead to a reduction in your property tax bill, offering significant relief and ensuring you only pay your fair share.

Property Tax Bills Across Troy, Montgomery County, Ohio

Source: Ownwell

$140

$3,884

$7,628

Median Troy Tax Bill

$6,292

Median Montgomery County Tax Bill

$2,435

Median Ohio Tax Bill

$2,396

Median United States Tax Bill

$2,400

Property Tax Bills Across Troy, Montgomery County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
45373	N/A	N/A	N/A	N/A	N/A

Source: Ownwell