Grandview Heights, Ohio Property Taxes
The median property tax rate in Grandview Heights, OH is 2.14%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Grandview Heights at $378,300, the typical annual property tax bill reaches $8,112, exceeding the national median of $2,690. Property taxes in Grandview Heights 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 Grandview Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Grandview Heights 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
Grandview Heights, 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 Grandview Heights Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Grandview Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grandview Heights to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Grandview Heights, Ohio
Property taxes in Grandview Heights, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grandview Heights is 2.14%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Grandview Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grandview Heights 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 Grandview Heights' effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 43212 has both the highest and lowest median property tax rate at 2.14%. Understanding how these areas compare with Grandview Heights 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 Grandview Heights Tax Rate
2.14%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grandview Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43212 | 2.13% | 2.13% | 2.14% | 2.14% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Grandview Heights, Ohio
In Grandview Heights, 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. 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 Grandview Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 43212 has both the highest and lowest median tax bill at $8,112.
Average Grandview Heights Assessed Value
$378,300
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 Grandview Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43212 | $300,460 | $329,650 | $378,300 | $448,050 | $489,900 |
Source: Ownwell
Property Tax Bills Across Grandview Heights, Ohio
Property tax bills in Grandview Heights, located in Franklin County, Ohio, are calculated based on the assessed value of a property, which is determined by the county's appraisal district. The assessed value is a percentage of the market value of the home. Homeowners in this area face property tax bills that vary significantly depending on their property's assessed value and the local tax rate. The median home price in Grandview Heights is $378,300, and property tax bills can range widely. For instance, the 25th percentile tax bill is around $7,069, while the 75th percentile tax bill can rise to $9,550. At the 90th percentile, homeowners might see tax bills as high as $10,413. The highest median tax bill recorded in the area is $8,112, specifically in the 43212 zip code. These property tax bills impact homeowners by influencing their overall housing costs, potentially affecting affordability and long-term financial planning. Compared to the national median property tax rate of 0.99%, the tax rates in Grandview Heights may represent a significant financial consideration for residents.
Average Grandview Heights Tax Bill
$8,112
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Grandview Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43212 | $6,443 | $7,069 | $8,112 | $9,550 | $10,413 |
Source: Ownwell