Obetz Corp, Ohio Property Taxes
The median property tax rate in Obetz Corp, OH is 1.97%, 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 Corp, the typical annual property tax bill reaches $215, which is significantly lower than the national median of $2,690. Property taxes in Obetz Corp 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 Obetz Corp'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 Corp 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
Obetz Corp, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.97%
Estimate Property Tax Bill
$215
$199
Ownwell’s OBETZ CORP Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in OBETZ CORP with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in OBETZ CORP 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 Corp, Ohio
Property taxes in Obetz Corp, Ohio, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Obetz Corp is 1.97%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Obetz Corp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Obetz Corp 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 Corp's effective property tax rate to other counties in Ohio and the national median. Understanding how these cities compare with Obetz Corp 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 Corp Tax Rate
1.97%
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 Corp, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Obetz Corp, Ohio
In Obetz Corp, 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 Obetz Corp, 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 Obetz Corp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest tax bill in the area is 43207, with an annual bill of $215, while the lowest is also $215.
Average Obetz Corp Assessed Value
$10,900
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 Corp, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Obetz Corp, Ohio
In Obetz Corp, Franklin County, OH, property tax bills are calculated based on the assessed value of the property. The local tax authorities determine this value, which is typically a percentage of the market value. Homeowners in Obetz Corp can expect a median home price of $10,900. The property tax rate in Franklin County is applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. For most homeowners, the tax bill falls around $215, consistent across the 25th, 75th, and 90th percentiles. Compared to the national median property tax rate of 0.99%, the property taxes in Obetz Corp are relatively low, providing some financial relief to homeowners. Understanding how these factors interplay helps homeowners anticipate their annual obligations and manage their finances more effectively.
Average Obetz Corp Tax Bill
$215
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 Corp, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell