Obetz, Ohio Property Taxes
The median property tax rate in Obetz, OH is 1.92%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Obetz at $112,600, the typical annual property tax bill reaches $2,310, which is still below the national median of $2,690. Property taxes in Obetz 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 Obetz'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 Obetz 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
Obetz, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.92%
Estimate Property Tax Bill
$2,162
Ownwell’s Obetz Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Obetz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Obetz 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 Obetz, Ohio
Property taxes in Obetz, Ohio, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Obetz is 1.92%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Obetz set these rates annually, and they can vary across different neighborhoods. Each year, Obetz 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 Obetz's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43207 has the highest median property tax rate of 1.92%, while the same zip code also has the lowest median tax rate of 1.92%. Understanding how these areas compare with Obetz 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 Obetz Tax Rate
1.92%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Obetz, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43207 | 1.65% | 1.92% | 1.92% | 2.23% | 2.28% |
Source: Ownwell
Property Tax Assessment Values Across Obetz, Ohio
In Obetz, Ohio, comprehending the difference between "market value" and "assessed value" is essential for understanding property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Franklin County Auditor for tax purposes. On the other hand, 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 Obetz, 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. In Obetz, the median home price is $112,600, with tax bills ranging from $1,773 at the 25th percentile to $3,435 at the 90th percentile. The zip code 43207 has both the highest and lowest median tax bill at $2,310. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Obetz Assessed Value
$112,600
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 Obetz, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43207 | $56,830 | $90,000 | $112,600 | $141,700 | $168,230 |
Source: Ownwell
Property Tax Bills Across Obetz, Ohio
In Obetz, located in Franklin County, OH, property tax bills are calculated by applying the local tax rate to the assessed value of the property. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For homeowners in Obetz, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $1,773, while those in the 75th percentile pay approximately $2,864. Homeowners at the 90th percentile see tax bills as high as $3,435. The median home price in Obetz is $112,600, and the local property tax rate is compared to the national median rate of 0.99%. These tax bills can influence homeowners' financial planning and the overall affordability of living in the area. The highest and lowest median tax bills in the region are both $2,310, found in the zip code 43207, indicating a level of consistency in property tax assessments within that specific area.
Average Obetz Tax Bill
$2,310
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Obetz, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43207 | $1,133 | $1,773 | $2,310 | $2,864 | $3,435 |
Source: Ownwell