Valleyview Corp, Ohio Property Taxes
The median property tax rate in Valleyview Corp, OH is 2.59%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $49,200 in Valleyview Corp, the typical annual property tax bill reaches $1,275, which is below the national median of $2,690. Property taxes in Valleyview Corp are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Valleyview Corp's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Valleyview Corp 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
Valleyview Corp, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.59%
Estimate Property Tax Bill
$1,274
Ownwell’s VALLEYVIEW CORP Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in VALLEYVIEW CORP with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in VALLEYVIEW 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 Valleyview Corp, Ohio
Property taxes in Valleyview Corp, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valleyview Corp is 1.52%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Valleyview Corp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valleyview 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 Valleyview Corp'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 1.87%, while the 43085 zip code has the lowest median tax rate of 1.36%. Understanding how these cities compare with Valleyview 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 Valleyview Corp Tax Rate
2.59%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valleyview Corp, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Valleyview Corp, Ohio
In Valleyview 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 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 Valleyview 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 Valleyview Corp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Valleyview Corp Assessed Value
$49,200
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 Valleyview Corp, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Valleyview Corp, Ohio
Property tax bills in Valleyview Corp, located in Franklin County, OH, are calculated based on the assessed value of the property. The assessed value is a percentage of the market value, which is determined by the county’s appraisal office. Factors such as property size, location, and improvements contribute to the market value assessment. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. In Valleyview Corp, the median home price is $49,200. Homeowners in this area typically pay property taxes that are consistent across different percentiles, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $1,275. This uniformity suggests a stable tax rate and assessment practices within the city. Compared to the national median property tax rate of 0.99%, Valleyview Corp’s tax rate might seem higher, impacting homeowners by increasing their annual financial obligations. Understanding these factors helps homeowners anticipate their tax liabilities and manage their budgets effectively.
Average Valleyview Corp Tax Bill
$1,275
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Valleyview Corp, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell