Property Tax Savings and Income Tax Calculator

As part of conveying as much information as possible to our residents, we have developed the “Property Tax Savings and Income Tax Calculator” to assist our residents in determining their property tax savings and whether or not your specific circumstances would require payment of the proposed income tax.

The Property Tax Saving and Income Tax Calculator is in an excel spreadsheet that is designed to calculate your specific property tax savings by allowing you to input variables concerning your property value and your current employment status. There are three fields that require input; your current property tax appraised value and two wage or net profit fields. The appraised value of your home includes the value of both your home and land and should be the amount on your tax bill or can be obtained through the County Auditors website (link attached to the calculator).

The other input fields relate to your wages or the net profit(s) of your business. After entering these for you, and/or your spouse, or if you hold two jobs your second income, you will select a circle indicating your current employment status. After completing these input fields and selecting the appropriate circle for each wage or net profit entered, the calculator will determine your property tax savings and if you will be required to pay the City of Beavercreek income tax should the initiative be passed by the voters in May 2013.

This calculator assumes the residential tax rate and assumes that the homeowner would qualify for both rollback state credits. If you qualify for a credit for being over 65 years of age or qualify for a disability under Ohio law, then simply reduce your appraised value by $25,000 and enter this into the property appraised value of your home or business.

After reviewing this calculator should you have any specific questions please feel free to call 427-5510 or send them to incometax@ci.beavercreek.oh.us.

Click “Property Tax Saving and Income Calculator” here to proceed to the calculator.

Note: If you do not have “Excel” but would like to see your property tax savings and whether you are required to pay the City income, simply call the Finance Department at 427-5511 x341 and we will enter your information and forward you a copy of the results.