Powell, Ohio Property Taxes
The median property tax rate in Powell, OH is 2.59%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Powell at $202,300, the typical annual property tax bill reaches $5,243, exceeding the national median of $2,690. Property taxes in Powell 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 Powell'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 Powell or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Powell, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.59%
Estimate Property Tax Bill
$5,240
Ownwell’s Powell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Powell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Powell 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 Powell, Ohio
Property taxes in Powell, Ohio, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Powell stands at 2.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Powell set these rates annually, and they can vary across different neighborhoods. Each year, Powell estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 Powell's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43065 has the highest median property tax rate of 2.59%, while the same zip code also has the lowest median tax rate of 2.59%. Understanding how these cities compare with Powell provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Powell Tax Rate
2.59%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Powell, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43065 | 2.25% | 2.59% | 2.59% | 2.59% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Powell, Ohio
In Powell, 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 Appraisal District 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 Powell, 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 Powell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Powell are both $5,243, found in the 43065 zip code, reflecting the uniformity in property tax assessments in this area.
Average Powell Assessed Value
$202,300
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 Powell, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43065 | $132,800 | $173,500 | $202,300 | $246,100 | $283,650 |
Source: Ownwell
Property Tax Bills Across Powell, Ohio
In Powell, Ohio, situated in Franklin County, property tax bills are determined by assessing the value of a home and applying the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the tax rate set by local authorities. For homeowners in Powell, the median home price is $202,300. The property tax rate in Franklin County is notably higher than the national median of 0.99%, leading to substantial tax bills. Homeowners in Powell can expect their tax bills to vary significantly. The 25th percentile tax bill is $4,488, while the 75th percentile is $6,156, and the 90th percentile reaches $6,865. These figures highlight the financial impact on homeowners, with the highest median tax bill recorded at $5,243 in the 43065 zip code. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly, ensuring they are prepared for the property tax expenses associated with living in Powell.
Average Powell Tax Bill
$5,243
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Powell, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43065 | $3,265 | $4,488 | $5,243 | $6,156 | $6,865 |
Source: Ownwell