Bexley, Ohio Property Taxes
The median property tax rate in Bexley, OH is 2.30%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Bexley, the typical annual property tax bill reaches $4,673, exceeding the national median of $2,690. Property taxes in Bexley are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bexley'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 Bexley 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
Bexley, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$4,682
Ownwell’s Bexley Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bexley with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bexley to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property's assessed value is determined by Franklin County for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Bexley, Ohio
Property taxes in Bexley, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bexley is 2.30%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Bexley set these rates annually, and they can vary across different neighborhoods. Each year, Bexley 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 Bexley's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43209 within Bexley has the highest median property tax rate of 2.30%, while the same zip code also represents the lowest median tax rate of 2.30%. Understanding how these areas compare with Bexley provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bexley Tax Rate
2.30%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bexley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43209 | 2.29% | 2.29% | 2.30% | 2.30% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Bexley, Ohio
In Bexley, 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 Franklin 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 Bexley, 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 Bexley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 43209 has both the highest and lowest median tax bill at $4673, highlighting the uniformity in tax assessments within the area.
Average Bexley Assessed Value
$203,550
Average Franklin County Assessed Value
$168,000
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bexley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43209 | $193,430 | $197,225 | $203,550 | $209,875 | $213,670 |
Source: Ownwell
Property Tax Bills Across Bexley, Ohio
In Bexley, located in Franklin County, OH, property tax bills are calculated based on the assessed value of the home, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Bexley, the median home price stands at $203,550. The property tax rate in Bexley is higher than the national median of 0.99%, leading to substantial tax bills. Factors considered in determining the tax bill include the property's market value, local tax rates, and any applicable exemptions. The 25th percentile of tax bills in Bexley is $4,533, while the 75th percentile is $4,814, and the 90th percentile reaches $4,898. The highest and lowest median tax bills in the area are both $4,673, found in ZIP code 43209. These taxes fund essential community services such as schools, infrastructure, and public safety, impacting homeowners by contributing to the overall cost of property ownership.
Average Bexley Tax Bill
$4,673
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bexley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43209 | $4,448 | $4,533 | $4,673 | $4,814 | $4,898 |
Source: Ownwell