Marble Cliff, Ohio Property Taxes
The median property tax rate in Marble Cliff, OH is 1.75%, which is considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With a median home value of $336,950, the typical annual property tax bill in Marble Cliff reaches $6,197, significantly exceeding the national median of $2,690. Property taxes in Marble Cliff are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Marble Cliff'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 Marble Cliff or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marble Cliff, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.75%
Estimate Property Tax Bill
$5,897
$5,472
Ownwell’s Marble Cliff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marble Cliff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marble Cliff 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 Marble Cliff, Ohio
Property taxes in Marble Cliff, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marble Cliff is 1.75%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Marble Cliff set these rates annually, and they can vary across different neighborhoods. Each year, Marble Cliff 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 Marble Cliff's effective property tax rate to other areas in Franklin County and the national median. For comparison, the zip code 43212 has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these cities compare with Marble Cliff 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 Marble Cliff Tax Rate
1.75%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marble Cliff, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43212 | 1.75% | 1.75% | 1.75% | 1.79% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Marble Cliff, Ohio
In Marble Cliff, 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 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 Marble Cliff, 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 Marble Cliff 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 $6,197, found in the 43212 zip code.
Average Marble Cliff Assessed Value
$336,950
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 Marble Cliff, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43212 | $242,940 | $258,600 | $336,950 | $623,750 | $680,230 |
Source: Ownwell
Property Tax Bills Across Marble Cliff, Ohio
In Marble Cliff, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, homeowners in Franklin County, where Marble Cliff is located, experience varying tax bills depending on their property's value. The median home price here is $336,950, and the tax bill can range significantly. At the 25th percentile, homeowners might pay around $4,646, while those at the 75th percentile could see bills as high as $10,930. For the top 10% of properties, tax bills can reach up to $15,696. These figures highlight the substantial impact property taxes can have on homeowners' finances. Compared to the national median property tax rate of 0.99%, Marble Cliff's property tax rates can result in higher annual bills, especially for higher-valued properties. Understanding these factors helps homeowners better anticipate and manage their annual property tax obligations.
Average Marble Cliff Tax Bill
$6,197
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Marble Cliff, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43212 | $4,344 | $4,646 | $6,197 | $10,930 | $15,696 |
Source: Ownwell