Grove City, Ohio Property Taxes
The median property tax rate in Grove City, OH is 2.13%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Grove City at $181,700, the typical annual property tax bill reaches $3,693, exceeding the national median of $2,690. Property taxes in Grove 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 Grove 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 Grove 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
Grove City, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.13%
Estimate Property Tax Bill
$3,870
Ownwell’s Grove City Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Grove City. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Grove City to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities. For those interested in more granular data, you can scroll down to explore trends at the neighborhood level. Remember, your property’s assessed value is the figure assigned by Franklin County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Grove City, Ohio
Property taxes in Grove City, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Grove City is 2.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Grove City set these rates annually, and they can vary across different neighborhoods. Each year, Grove 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. The data below compares Grove City's effective property tax rate to other areas in Ohio and the national median. For comparison, the 43123 zip code has the highest median property tax rate of 2.13%, while the same zip code also has the lowest median tax rate of 2.13%. Understanding how these rates compare with Grove City 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 Grove City Tax Rate
2.13%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grove City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43123 | 1.71% | 1.83% | 2.13% | 2.13% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Grove City, Ohio
In Grove 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 Grove 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 Grove City 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 $3,693, found in the 43123 zip code, which also has the lowest median tax bill at $3,693.
Average Grove City Assessed Value
$181,700
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 Grove City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43123 | $109,780 | $141,800 | $181,700 | $243,300 | $319,400 |
Source: Ownwell
Property Tax Bills Across Grove City, Ohio
In Grove City, located in Franklin County, OH, property tax bills are calculated based on the assessed value of a home rather than its market value. The county's tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Grove City can expect a median home price of $181,700. The tax bills vary significantly, with the 25th percentile at $2,707 and the 75th percentile at $5,232. For those at the 90th percentile, tax bills can reach up to $7,035. The median tax bill in the zip code 43123 is $3,693, which is notably higher than the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Higher tax bills can affect affordability, especially for those on fixed incomes, but they also ensure well-funded community resources.
Average Grove City Tax Bill
$3,693
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Grove City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43123 | $2,094 | $2,707 | $3,693 | $5,232 | $7,035 |
Source: Ownwell