Yellow Springs, Ohio Property Taxes
The median property tax rate in Yellow Springs, OH is 1.81%, slightly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value of $156,590 in Yellow Springs, the typical annual property tax bill reaches $2,708, which is close to the national median of $2,690. Property taxes in Yellow Springs are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Yellow Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Yellow Springs or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yellow Springs, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.81%
Estimate Property Tax Bill
$2,834
Ownwell’s Yellow Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yellow Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yellow Springs to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Yellow Springs, Ohio
Property taxes in Yellow Springs, Ohio, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Yellow Springs is 1.81%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Yellow Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yellow Springs estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Yellow Springs' effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45387 has the highest median property tax rate of 1.81%, while the same zip code also has the lowest median tax rate of 1.81%. Understanding how these cities compare with Yellow Springs provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yellow Springs Tax Rate
1.81%
Average Clark County Tax Rate
1.69%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yellow Springs, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45387 | 1.09% | 1.56% | 1.81% | 1.94% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Yellow Springs, Ohio
In Yellow Springs, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Clark County Auditor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Yellow Springs, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Yellow Springs is $156,590, with tax bills ranging from $2,157 at the 25th percentile to $5,383 at the 90th percentile. Interestingly, the zip code 45387 has both the highest and lowest median tax bill at $2,708. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Yellow Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Yellow Springs Assessed Value
$156,590
Average Clark County Assessed Value
$117,390
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yellow Springs, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45387 | $97,140 | $128,805 | $156,590 | $264,185 | $353,070 |
Source: Ownwell
Property Tax Bills Across Yellow Springs, Ohio
In Yellow Springs, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The tax rate for Clark County, where Yellow Springs is located, is then applied to this assessed value to determine the annual property tax bill. Various factors influence this assessment, including the property's location, size, and any improvements made to it. For homeowners in Yellow Springs, the median home price is $156,590. Property tax bills can vary significantly, with the 25th percentile bill at $2,157, the 75th percentile at $4,300, and the 90th percentile reaching $5,383. The median property tax bill in Yellow Springs is $2,708, which is above the national median property tax rate of 0.99%. This means that homeowners in Yellow Springs may pay more in property taxes compared to the national average, impacting their overall housing costs and affordability. Understanding these factors can help homeowners better anticipate and manage their annual property tax obligations.
Average Yellow Springs Tax Bill
$2,708
Average Clark County Tax Bill
$1,871
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Yellow Springs, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45387 | $1,425 | $2,157 | $2,708 | $4,300 | $5,383 |
Source: Ownwell