Springfield, Ohio Property Taxes
The median property tax rate in Springfield, Ohio is 1.70%, which is considerably higher than the national median of 0.99% but slightly lower than the Ohio state median of 1.80%. With the median home value in Springfield at $109,715, the typical annual property tax bill reaches $1,745, still below the national median of $2,690. Property taxes in Springfield are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding 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 Springfield 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
Springfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$1,865
$1,731
Ownwell’s Springfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in 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 Springfield, Ohio
Property taxes in Springfield, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springfield is 1.70%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, 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 Springfield's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45506 zip code has the highest median property tax rate of 1.73%, while the 45503 zip code has the lowest median tax rate of 1.52%. Understanding how these areas compare with Springfield 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 Springfield Tax Rate
1.70%
Average Clark County Tax Rate
1.69%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45502 | 1.10% | 1.44% | 1.60% | 1.72% | 1.86% |
| 45503 | 0.87% | 1.38% | 1.52% | 1.74% | 1.78% |
| 45504 | 1.09% | 1.55% | 1.71% | 1.77% | 1.78% |
| 45505 | 0.85% | 1.54% | 1.73% | 1.77% | 2.75% |
| 45506 | 0.84% | 1.62% | 1.73% | 1.77% | 3.76% |
Source: Ownwell
Property Tax Assessment Values Across Springfield, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Springfield, Ohio. 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 Auditor 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 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 Springfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Springfield, the highest median tax bill is $3,122 in the 45502 zip code, while the lowest median tax bill is $1,123 in the 45506 zip code.
Average Springfield Assessed Value
$109,715
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 Springfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45502 | $112,808 | $153,870 | $198,300 | $256,300 | $320,168 |
| 45503 | $47,080 | $79,160 | $117,210 | $154,480 | $205,270 |
| 45504 | $44,640 | $90,640 | $132,490 | $192,420 | $275,884 |
| 45505 | $27,769 | $42,598 | $66,910 | $94,050 | $150,903 |
| 45506 | $25,970 | $39,065 | $60,080 | $93,895 | $154,630 |
Source: Ownwell
Property Tax Bills Across Springfield, Ohio
In Springfield, located in Clark County, OH, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is a percentage of the market value of your property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence your property tax bill, including the market value of your home, local tax rates, and any applicable exemptions or deductions. For instance, homeowners in Springfield with median home prices of $109,715 can expect tax bills that range significantly. The 25th percentile tax bill is around $1,023, while the 75th percentile is approximately $2,798. At the higher end, the 90th percentile tax bill reaches up to $4,290. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Springfield's rates can vary, impacting homeowners differently based on their property's assessed value and specific location within the city.
Average Springfield Tax Bill
$1,745
Average Clark County Tax Bill
$1,871
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Springfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45502 | $1,401 | $2,207 | $3,122 | $4,164 | $5,360 |
| 45503 | $683 | $1,190 | $1,757 | $2,384 | $3,462 |
| 45504 | $740 | $1,330 | $2,172 | $3,243 | $4,874 |
| 45505 | $387 | $713 | $1,165 | $1,810 | $3,328 |
| 45506 | $334 | $660 | $1,123 | $1,971 | $3,325 |
Source: Ownwell