Greenfield, Ohio Property Taxes
The median property tax rate in Greenfield, OH is 1.32%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Greenfield at $105,635, the typical annual property tax bill is around $1,414, which is below the national median of $2,690. Property taxes in Greenfield are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Greenfield'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 Greenfield or another part of Ross County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenfield, 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 Greenfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenfield 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 Greenfield, Ohio
Property taxes in Greenfield, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenfield is 1.32%, higher than the U.S. national median of 0.99%. Local government entities within Greenfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenfield 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 Greenfield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45123 zip code has the highest median property tax rate of 1.32%, while the same 45123 zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Greenfield provides valuable insights into the varying tax landscape across Ross County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenfield Tax Rate
1.32%
Average Ross County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45123 | 0.88% | 1.15% | 1.32% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Greenfield, Ohio
In Greenfield, 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 Ross 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 Greenfield, 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. For instance, the highest median tax bill in Greenfield is $1,414 in the 45123 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenfield Assessed Value
$105,635
Average Ross County Assessed Value
$96,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45123 | $13,480 | $44,018 | $105,635 | $186,172 | $334,780 |
Source: Ownwell
Property Tax Bills Across Greenfield, Ohio
In Greenfield, Ohio, property tax bills are calculated based on the assessed value of a property, which is determined by the Ross County Auditor. This assessed value is a percentage of the property's market value. The tax rate, or millage rate, is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made. For homeowners in Greenfield, the median home price is $105,635, resulting in varying tax bills. At the 25th percentile, homeowners pay around $596 annually, while those at the 75th percentile face tax bills of approximately $2,360. The highest tax bills, at the 90th percentile, can reach up to $3,616. Comparatively, the national median property tax rate is 0.99%, which helps put Greenfield's rates into perspective. Understanding these factors allows homeowners to better anticipate their property tax obligations and plan accordingly.
Average Greenfield Tax Bill
$1,414
Average Ross County Tax Bill
$1,236
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45123 | $190 | $596 | $1,414 | $2,360 | $3,616 |
Source: Ownwell