East Springfield, Ohio Property Taxes
The median property tax rate in East Springfield, OH is 2.19%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in East Springfield at $55,015, the typical annual property tax bill reaches $1,202, surpassing the national median of $2,690. Property taxes in East Springfield 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 East Springfield'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 East Springfield or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
East Springfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.19%
Estimate Property Tax Bill
$1,205
Ownwell’s EAST SPRINGFIELD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EAST SPRINGFIELD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EAST SPRINGFIELD 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 East Springfield, Ohio
Property taxes in East Springfield, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Springfield is 2.19%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within East Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Springfield 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 East Springfield's effective property tax rate to other areas in Jefferson County and the national median. For comparison, the zip code 43925 has the highest median property tax rate of 2.19%, while the same zip code also has the lowest median tax rate of 2.19%. Understanding how these cities compare with East Springfield provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Springfield Tax Rate
2.19%
Average Jefferson County Tax Rate
2.19%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Springfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43925 | 2.13% | 2.19% | 2.19% | 2.19% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across East Springfield, Ohio
In EAST SPRINGFIELD, 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 Jefferson 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 EAST SPRINGFIELD, 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 EAST SPRINGFIELD helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $1202 in the 43925 zip code, while the lowest is also $1202 in the same zip code.
Average East Springfield Assessed Value
$55,015
Average Jefferson County Assessed Value
$67,215
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Springfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43925 | $12,381 | $18,782 | $55,015 | $69,398 | $83,443 |
Source: Ownwell
Property Tax Bills Across East Springfield, Ohio
In EAST SPRINGFIELD, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and condition are considered in the assessment process. In Jefferson County, the median home price is $55,015, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $411, while the 75th percentile tax bill is $1,517. At the 90th percentile, homeowners might see tax bills as high as $1,790. These figures highlight the range of property tax burdens that homeowners might face. Compared to the national median property tax rate of 0.99%, EAST SPRINGFIELD's rates can be relatively high, impacting homeowners' annual expenses and influencing decisions related to property investments and homeownership affordability.
Average East Springfield Tax Bill
$1,202
Average Jefferson County Tax Bill
$1,517
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across East Springfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43925 | $270 | $411 | $1,202 | $1,517 | $1,790 |
Source: Ownwell