Greenfield, Ohio Property Taxes
The median property tax rate in Greenfield, OH is 1.20%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $60,200 in Greenfield, the typical annual property tax bill amounts to $682, significantly less than the national median of $2,690. Property taxes in Greenfield are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Greenfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Greenfield or another part of Highland County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenfield, 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 Greenfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenfield 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 Greenfield, Ohio
Property taxes in Greenfield, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenfield is 1.20%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Greenfield annually set these rates, and they can vary significantly across different neighborhoods. Each year, Greenfield 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 Greenfield's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45123 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these areas compare with Greenfield provides valuable insights into the varying tax landscape across Highland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenfield Tax Rate
1.20%
Average Highland County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45123 | 0.72% | 1.16% | 1.20% | 1.23% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Greenfield, Ohio
In Greenfield, 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 Highland 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 Greenfield, 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 Greenfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $682 in the 45123 zip code, while the lowest median tax bill is also $682 in the same zip code.
Average Greenfield Assessed Value
$60,200
Average Highland County Assessed Value
$82,400
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45123 | $15,720 | $38,025 | $60,200 | $100,200 | $164,990 |
Source: Ownwell
Property Tax Bills Across Greenfield, Ohio
In Greenfield, located in Highland County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically represents a percentage of the market value of the property. Several factors influence the tax bill, including the property's location, size, and improvements made to it. For homeowners in Greenfield, the median home price is $60,200. Property tax bills can vary significantly, with the 25th percentile at $424 and the 75th percentile reaching $1,140. At the 90th percentile, homeowners may see tax bills as high as $1,869. These figures demonstrate the range of property tax burdens within the area. Comparatively, the national median property tax rate is 0.99%, and Greenfield’s rates are reflective of the local property values and tax levies. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Greenfield Tax Bill
$682
Average Highland County Tax Bill
$971
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45123 | $172 | $424 | $682 | $1,140 | $1,869 |
Source: Ownwell