South Solon, Ohio Property Taxes
The median property tax rate in South Solon, OH, is 0.94%, which is lower than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $74,320 in South Solon, the typical annual property tax bill is $701, significantly below the national median of $2,690. Property taxes in South Solon are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding South Solon'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 South Solon 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
South Solon, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$699
$648
Ownwell’s South Solon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Solon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Solon 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 South Solon, Ohio
Property taxes in South Solon, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Solon is 1.12%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within South Solon set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Solon 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 South Solon's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43153 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with South Solon provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Solon Tax Rate
0.94%
Average Greene County Tax Rate
2.02%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Solon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43153 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across South Solon, Ohio
In South Solon, 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 Greene 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 South Solon, 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 South Solon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the zip code 43153 has both the highest and lowest median tax bills, standing at $701. This is significantly lower than the national median property tax rate of 0.99%, making it essential for homeowners to stay informed about their property valuations and potential tax savings.
Average South Solon Assessed Value
$74,320
Average Greene County Assessed Value
$165,090
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Solon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43153 | $74,320 | $74,320 | $74,320 | $74,320 | $74,320 |
Source: Ownwell
Property Tax Bills Across South Solon, Ohio
In South Solon, Greene County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The property tax rate in this region is applied to the assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in South Solon is $74,320. Homeowners in South Solon typically face a median property tax bill of $701, which is notably below the national median property tax rate of 0.99%. This lower tax bill can be attributed to the relatively modest home values in the area. For homeowners, this means a more manageable annual expense compared to regions with higher property values and tax rates. The consistency in tax bills, as seen with the 25th, 75th, and 90th percentiles all at $701, indicates a stable and predictable property tax environment for residents.
Average South Solon Tax Bill
$701
Average Greene County Tax Bill
$3,355
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across South Solon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43153 | $701 | $701 | $701 | $701 | $701 |
Source: Ownwell