Jeffersonville, Ohio Property Taxes
The median property tax rate in Jeffersonville, OH 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 Jeffersonville at $91,100, the typical annual property tax bill reaches $1,488, falling below the national median of $2,690. Property taxes in Jeffersonville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Jeffersonville'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 Jeffersonville 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
Jeffersonville, 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 Jeffersonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jeffersonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jeffersonville 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 Jeffersonville, Ohio
Property taxes in Jeffersonville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jeffersonville is 1.70%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Jeffersonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jeffersonville 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 Jeffersonville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43128 zip code has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Jeffersonville provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jeffersonville Tax Rate
1.70%
Average Fayette County Tax Rate
1.38%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jeffersonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43128 | 0.96% | 1.49% | 1.70% | 1.77% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Jeffersonville, Ohio
In Jeffersonville, 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 Fayette 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 Jeffersonville, 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 example, the highest median tax bill in the area is $1,488 in the zip code 43128, while the lowest median tax bill is also $1,488 in the same zip code. Being aware of these valuation processes in Jeffersonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jeffersonville Assessed Value
$91,100
Average Fayette County Assessed Value
$107,500
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jeffersonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43128 | $27,720 | $56,200 | $91,100 | $136,100 | $256,180 |
Source: Ownwell
Property Tax Bills Across Jeffersonville, Ohio
In Jeffersonville, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the Fayette County Assessor's office. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Jeffersonville pay a median property tax rate of 0.99%, aligning with the national median. The median home price in Jeffersonville is $91,100, resulting in an average tax bill of around $902. However, this can vary significantly. For instance, the 25th percentile tax bill is $943, while the 75th percentile reaches $2,189, and the 90th percentile peaks at $3,509. These property tax bills can significantly impact homeowners, influencing their overall cost of living and potentially affecting their ability to afford their homes. Understanding how these taxes are calculated helps residents anticipate and manage their financial commitments.
Average Jeffersonville Tax Bill
$1,488
Average Fayette County Tax Bill
$1,527
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Jeffersonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43128 | $437 | $943 | $1,488 | $2,189 | $3,509 |
Source: Ownwell