Bexley City, Ohio Property Taxes
The median property tax rate in Bexley City, OH is 2.78%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Bexley City being $107,400, the typical annual property tax bill reaches $3,377, exceeding the national median of $2,690. Property taxes in Bexley City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bexley City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bexley City 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
Bexley City, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Bexley City Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bexley City with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bexley City to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities clearly. For those interested in more detailed trends at a neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by Franklin County, is used for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Bexley City, Ohio
Property taxes in Bexley City, Ohio, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bexley City is 2.78%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Bexley City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bexley City 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. Understanding how Bexley City's effective property tax rate compares to other areas in Franklin County and the national median provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bexley City Tax Rate
2.78%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bexley City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
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Source: Ownwell
Property Tax Assessment Values Across Bexley City, Ohio
In Bexley City, 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 Franklin 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 Bexley City, 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. 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 Bexley City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Bexley City, the lowest tax bills are around $2,096, while the highest can reach $5,426.
Average Bexley City Assessed Value
$107,400
Average Franklin County Assessed Value
$168,000
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bexley City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Bexley City, Ohio
In Bexley City, located in Franklin County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $107,400, homeowners can expect their property tax bills to vary. At the 25th percentile, tax bills are around $2,096, while at the 75th percentile, they can reach up to $4,658. For the top 10% of properties, tax bills can soar to $5,426. These tax rates are influenced by various factors, including local government budgets, school funding requirements, and public services. Homeowners in Bexley City should be aware that their property taxes are higher than the national median property tax rate of 0.99%, reflecting the city's commitment to maintaining robust public services and infrastructure. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Bexley City Tax Bill
$3,377
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bexley City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell