Spring Valley, Ohio Property Taxes
The median property tax rate in Spring Valley, Ohio is 2.24%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Spring Valley at $226,590, the typical annual property tax bill reaches $4,740, exceeding the national median of $2,690. Property taxes in Spring Valley 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 Spring Valley'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 Spring Valley 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
Spring Valley, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.24%
Estimate Property Tax Bill
$5,076
Ownwell’s Spring Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spring Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spring Valley 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 Spring Valley, Ohio
Property taxes in Spring Valley, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Valley is 2.24%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Spring Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Valley 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 Spring Valley's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45370 zip code has the highest median property tax rate of 2.24%, while the same zip code also has the lowest median tax rate of 2.24%. Understanding how these cities compare with Spring Valley 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 Spring Valley Tax Rate
2.24%
Average Greene County Tax Rate
2.02%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Valley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45370 | 1.73% | 2.05% | 2.24% | 2.35% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Spring Valley, Ohio
In Spring Valley, 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 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 Spring Valley, 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 Spring Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 45370 has the highest and lowest median tax bill of $4,740 in the area.
Average Spring Valley Assessed Value
$226,590
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 Spring Valley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45370 | $72,520 | $124,160 | $226,590 | $375,280 | $506,954 |
Source: Ownwell
Property Tax Bills Across Spring Valley, Ohio
In Spring Valley, property tax bills are calculated based on the assessed value of a home, which is determined by the Greene County assessor. This assessed value is a percentage of the market value of the property. The tax rate, applied to this assessed value, is set by local taxing authorities and funds services like schools, roads, and emergency services. For homeowners in Spring Valley, the median home price is $226,590. The property tax bills can vary widely, with the 25th percentile at $2,492 and the 75th percentile reaching $8,305. At the 90th percentile, homeowners might see tax bills as high as $11,764. Compared to the national median property tax rate of 0.99%, Spring Valley's rates reflect the local funding needs and property values. Homeowners should be aware of these factors, as higher property taxes can significantly impact annual housing costs. Understanding how these elements interplay is crucial for financial planning and property investment in the area.
Average Spring Valley Tax Bill
$4,740
Average Greene County Tax Bill
$3,355
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Valley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45370 | $1,448 | $2,492 | $4,740 | $8,305 | $11,764 |
Source: Ownwell