South Vienna, Ohio Property Taxes
The median property tax rate in South Vienna, OH is 1.62%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in South Vienna, the typical annual property tax bill reaches $2,195, which is below the national median of $2,690. Property taxes in South Vienna 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 South Vienna'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 South Vienna 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
South Vienna, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$2,519
Ownwell’s South Vienna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Vienna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Vienna 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 South Vienna, Ohio
Property taxes in South Vienna, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Vienna is 1.62%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within South Vienna set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Vienna 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 South Vienna's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45369 zip code has the highest median property tax rate of 1.62%, while the 45369 zip code also has the lowest median tax rate of 1.62%. Understanding how these cities compare with South Vienna provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Vienna Tax Rate
1.62%
Average Madison County Tax Rate
1.59%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Vienna, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45369 | 1.39% | 1.44% | 1.62% | 1.63% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across South Vienna, Ohio
In South Vienna, 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 Madison 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 South Vienna, 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. For example, the median home price in South Vienna is $155,470, with tax bills ranging from $1,914 at the 25th percentile to $3,614 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average South Vienna Assessed Value
$155,470
Average Madison County Assessed Value
$142,200
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Vienna, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45369 | $112,198 | $126,265 | $155,470 | $200,100 | $240,616 |
Source: Ownwell
Property Tax Bills Across South Vienna, Ohio
In South Vienna, Madison County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For context, the median home price in South Vienna is $155,470. The tax bill can vary significantly, with the 25th percentile at $1,914 and the 75th percentile reaching $3,085. The 90th percentile tax bill can go as high as $3,614. Several factors influence the total tax bill, including the property's location, its assessed value, and applicable exemptions or deductions. Homeowners in South Vienna might find their tax bills higher or lower than the national median property tax rate of 0.99%, depending on these variables. The highest median tax bill in the area is $2,195, which is notably higher than the national median, reflecting the local tax environment. Understanding these factors helps homeowners anticipate their annual property tax expenses and plan accordingly.
Average South Vienna Tax Bill
$2,195
Average Madison County Tax Bill
$2,428
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across South Vienna, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45369 | $1,802 | $1,914 | $2,195 | $3,085 | $3,614 |
Source: Ownwell