Worthington, Ohio Property Taxes
The median property tax rate in Worthington, OH is 2.66%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value of $284,600 in Worthington, the typical annual property tax bill reaches $7,516, far exceeding the national median of $2,690. Property taxes in Worthington 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 Worthington'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 Worthington 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
Worthington, 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 Worthington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Worthington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Worthington 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 Worthington, Ohio
Property taxes in Worthington, Ohio, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Worthington is 2.66%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Worthington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Worthington 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 Worthington's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43085 zip code has the highest median property tax rate of 2.66%, while the same zip code also has the lowest median tax rate of 2.66%. Understanding how these cities compare with Worthington 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 Worthington Tax Rate
2.66%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Worthington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43085 | 2.46% | 2.64% | 2.66% | 2.66% | 2.72% |
Source: Ownwell
Property Tax Assessment Values Across Worthington, Ohio
In Worthington, 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 Worthington, 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. The median home price in Worthington is $284,600, with tax bills ranging from $5,801 at the 25th percentile to $12,329 at the 90th percentile. The highest and lowest median tax bills in the area are both found in the 43085 zip code, amounting to $7,516. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Worthington Assessed Value
$284,600
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 Worthington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43085 | $126,400 | $220,800 | $284,600 | $357,900 | $451,100 |
Source: Ownwell
Property Tax Bills Across Worthington, Ohio
In Worthington, located in Franklin 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 is then multiplied by the local property tax rate to determine the annual tax bill. Factors influencing the assessed value include the property's market value, location, and any improvements or changes made to the property. For homeowners in Worthington, the tax burden can vary significantly. For example, the 25th percentile tax bill is $5,801, while the 75th percentile reaches $9,597, and the 90th percentile climbs to $12,329. The median home price in Worthington is $284,600, and the median tax bill in the 43085 zip code is notably high at $7,516, reflecting the area's higher property values. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Homeowners should be aware of these factors when budgeting for annual expenses and considering the overall cost of homeownership in Worthington.
Average Worthington Tax Bill
$7,516
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Worthington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43085 | $3,419 | $5,801 | $7,516 | $9,597 | $12,329 |
Source: Ownwell