Reynoldsburg, Ohio Property Taxes
The median property tax rate in Reynoldsburg, OH is 3.25%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Reynoldsburg at $216,200, the typical annual property tax bill reaches $6,948, far exceeding the national median of $2,690. Property taxes in Reynoldsburg 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 Reynoldsburg'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 Reynoldsburg 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
Reynoldsburg, 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 Reynoldsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reynoldsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reynoldsburg 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 Reynoldsburg, Ohio
Property taxes in Reynoldsburg, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Reynoldsburg is 2.50%, higher than both the Ohio state median of 1.58% and the U.S. national median of 0.99%. Local government entities within Reynoldsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reynoldsburg 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 Reynoldsburg's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43068 zip code has the highest median property tax rate of 2.50%, while the same 43068 zip code also has the lowest median tax rate of 2.50%. Understanding how these cities compare with Reynoldsburg provides valuable insights into the varying tax landscape across Licking County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reynoldsburg Tax Rate
3.25%
Average Licking County Tax Rate
2.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reynoldsburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43068 | 2.89% | 3.25% | 3.25% | 3.25% | 3.25% |
Source: Ownwell
Property Tax Assessment Values Across Reynoldsburg, Ohio
In Reynoldsburg, 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 Licking 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 Reynoldsburg, 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 Reynoldsburg 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 $6,948 in the 43068 zip code, while the lowest is also $6,948 in the same zip code.
Average Reynoldsburg Assessed Value
$216,200
Average Licking County Assessed Value
$163,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reynoldsburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43068 | $116,100 | $184,400 | $216,200 | $245,000 | $270,160 |
Source: Ownwell
Property Tax Bills Across Reynoldsburg, Ohio
In Reynoldsburg, Licking County, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Reynoldsburg, the median home price stands at $216,200. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For example, the 25th percentile tax bill is $5,835, while the 75th percentile tax bill reaches $7,892, showing a range based on these variables. The highest median tax bill in the area is $6,948, which is notably higher than the national median property tax rate of 0.99%. This means that homeowners in Reynoldsburg may face higher property tax bills compared to the national average, potentially impacting their overall housing costs and financial planning.
Average Reynoldsburg Tax Bill
$6,948
Average Licking County Tax Bill
$3,689
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Reynoldsburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43068 | $3,774 | $5,835 | $6,948 | $7,892 | $8,696 |
Source: Ownwell