South Solon, Ohio Property Taxes
The median property tax rate in South Solon, OH is 1.27%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in South Solon being $217,220, the typical annual property tax bill comes to $2,488, slightly below the national median of $2,690. Property taxes in South Solon are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding South Solon'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 Solon 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 Solon, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$2,759
$2,560
Ownwell’s South Solon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Solon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Solon 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 Solon, Ohio
Property taxes in South Solon, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Solon is 1.27%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within South Solon set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Solon 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 Solon's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43153 zip code has the highest median property tax rate of 1.27%, while the same 43153 zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with South Solon provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Solon Tax Rate
1.27%
Average Clark County Tax Rate
1.69%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Solon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43153 | 0.84% | 1.11% | 1.27% | 1.35% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across South Solon, Ohio
In South Solon, 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 Clark 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 Solon, 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 South Solon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both found in the 43153 zip code, with a value of $2,488.
Average South Solon Assessed Value
$217,220
Average Clark County Assessed Value
$117,390
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Solon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43153 | $169,339 | $173,298 | $217,220 | $265,365 | $286,476 |
Source: Ownwell
Property Tax Bills Across South Solon, Ohio
In South Solon, Clark County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $217,220. Homeowners can expect their property tax bills to vary significantly depending on their property's assessed value and the local tax rate. For instance, the tax bill for homes at the 25th percentile is around $1,933, while those at the 75th percentile see bills closer to $3,314. The 90th percentile tax bill reaches up to $3,869, reflecting higher-value properties. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in South Solon, therefore, contribute to the community's well-being through their property taxes. Compared to the national median property tax rate of 0.99%, South Solon's rates can be seen as a vital component of maintaining the area's quality of life. The highest and lowest median tax bills in the region are both recorded at $2,488, indicating a consistent tax rate across different property values in the zip code 43153.
Average South Solon Tax Bill
$2,488
Average Clark County Tax Bill
$1,871
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across South Solon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43153 | $1,467 | $1,933 | $2,488 | $3,314 | $3,869 |
Source: Ownwell