New Albany, Delaware County, Ohio Property Taxes
The median property tax rate in New Albany, OH is 1.47%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in New Albany at $660,000, the typical annual property tax bill reaches $9,579, far exceeding the national median of $2,690. Property taxes in New Albany are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding New Albany'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 New Albany 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
New Albany, Delaware County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$9,702
$9,003
Ownwell’s New Albany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Albany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Albany 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 New Albany, Delaware County, Ohio
Property taxes in New Albany, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in New Albany is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Albany set these rates annually, and they can vary across different neighborhoods. Each year, New Albany 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 New Albany's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43054 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with New Albany provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Albany Tax Rate
1.47%
Average Delaware County Tax Rate
1.78%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Albany, Delaware County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43054 | 1.41% | 1.46% | 1.47% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across New Albany, Delaware County, Ohio
In New Albany, 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 Delaware 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 New Albany, 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 New Albany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in New Albany is $660,000, with the highest and lowest median tax bills both being $9,579 in zip code 43054.
Property Tax Assessment Values Across New Albany, Delaware County, Ohio
Source: Ownwell
$143,300
$533,700
$924,100
Average New Albany Assessed Value
$660,000
Average Delaware County Assessed Value
$406,400
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Albany, Delaware County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43054 | $353,940 | $433,700 | $660,000 | $838,550 | $919,440 |
Source: Ownwell
Property Tax Bills Across New Albany, Delaware County, Ohio
In New Albany, located in Delaware County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this area experience a median property tax rate of 1.45%, which is higher than the national median of 0.99%. For instance, with a median home price of $660,000, the property tax bill can range significantly. At the 25th percentile, homeowners might pay around $6,276, while at the 75th percentile, the tax bill can rise to approximately $12,406. Notably, the highest median tax bill in the area is $9,579, recorded in the 43054 zip code. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Consequently, understanding how property taxes are calculated and their implications is crucial for homeowners planning their finances and considering long-term investments in New Albany.
Average New Albany Tax Bill
$9,579
Average Delaware County Tax Bill
$7,016
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Albany, Delaware County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43054 | $4,643 | $6,276 | $9,579 | $12,406 | $13,689 |
Source: Ownwell