Urbancrest, Ohio Property Taxes
The median property tax rate in Urbancrest, OH is 2.09%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Urbancrest at $53,300, the typical annual property tax bill reaches $1,174, exceeding the national median of $2,690. Property taxes in Urbancrest 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 Urbancrest'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 Urbancrest 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
Urbancrest, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$1,114
$1,034
Ownwell’s Urbancrest Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Urbancrest with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Urbancrest 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 Urbancrest, Ohio
Property taxes in Urbancrest, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Urbancrest is 2.09%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Urbancrest set these rates annually, and they can vary significantly across different neighborhoods. Each year, Urbancrest 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 Urbancrest's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43123 zip code has the highest median property tax rate of 2.09%, while the same zip code also has the lowest median tax rate of 2.09%. Understanding how these cities compare with Urbancrest 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 Urbancrest Tax Rate
2.09%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Urbancrest, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43123 | 2.05% | 2.05% | 2.09% | 2.22% | 4.26% |
Source: Ownwell
Property Tax Assessment Values Across Urbancrest, Ohio
In Urbancrest, 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 Urbancrest, 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 Urbancrest helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 43123, with a tax bill of $1,174.
Average Urbancrest Assessed Value
$53,300
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 Urbancrest, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43123 | $1,200 | $3,000 | $53,300 | $70,025 | $93,360 |
Source: Ownwell
Property Tax Bills Across Urbancrest, Ohio
In Urbancrest, Franklin County, OH, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which in Urbancrest is influenced by the median home price of $53,300. The tax rate in this region is compared against the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, its assessed value, and any applicable exemptions. For instance, homeowners in Urbancrest may see tax bills ranging significantly, from the 25th percentile at $65 to the 75th percentile at $1,592, and even up to the 90th percentile at $2,313. This variation demonstrates how property characteristics and local tax policies impact what homeowners owe. Understanding these factors can help homeowners anticipate their tax liabilities and plan accordingly, ensuring they are prepared for their annual tax obligations.
Average Urbancrest Tax Bill
$1,174
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Urbancrest, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43123 | $25 | $65 | $1,174 | $1,592 | $2,313 |
Source: Ownwell