South Bloomfield, Ohio Property Taxes
The median property tax rate in South Bloomfield, OH is 1.46%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $153,760 in South Bloomfield, the typical annual property tax bill amounts to $2,159, falling short of the national median of $2,690. Property taxes in South Bloomfield are determined based on the tax assessed value, which is generally lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding South Bloomfield'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 South Bloomfield 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
South Bloomfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$2,245
Ownwell’s South Bloomfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Bloomfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Bloomfield 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 South Bloomfield, Ohio
Property taxes in South Bloomfield, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Bloomfield is 1.46%, significantly higher than the U.S. national median of 0.99%. Local government entities within South Bloomfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Bloomfield 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 South Bloomfield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43103 zip code has the highest median property tax rate of 1.46%, while the same 43103 zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with South Bloomfield provides valuable insights into the varying tax landscape across Pickaway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Bloomfield Tax Rate
1.46%
Average Pickaway County Tax Rate
1.37%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Bloomfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43103 | 1.11% | 1.46% | 1.46% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across South Bloomfield, Ohio
In South Bloomfield, 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 Pickaway 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 South Bloomfield, 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 South Bloomfield 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 $2,159 in zip code 43103, which is also the lowest median tax bill, highlighting the uniformity in tax assessments within the region.
Average South Bloomfield Assessed Value
$153,760
Average Pickaway County Assessed Value
$169,880
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Bloomfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43103 | $85,270 | $115,520 | $153,760 | $180,310 | $205,660 |
Source: Ownwell
Property Tax Bills Across South Bloomfield, Ohio
Property tax bills in South Bloomfield, located in Pickaway County, OH, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate, which varies depending on the specific tax jurisdiction. For South Bloomfield, the median home price is $153,760. Homeowners in the 25th percentile can expect a tax bill around $1,498, while those in the 75th percentile may see bills closer to $2,617. At the higher end, the 90th percentile tax bill reaches approximately $2,997. Several factors influence these tax bills, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, South Bloomfield's rates can be seen as relatively moderate. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to the quality of life in the community.
Average South Bloomfield Tax Bill
$2,159
Average Pickaway County Tax Bill
$2,168
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across South Bloomfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43103 | $715 | $1,498 | $2,159 | $2,617 | $2,997 |
Source: Ownwell