Yellow Springs, Ohio Property Taxes
The median property tax rate in Yellow Springs, 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 Yellow Springs at $218,700, the typical annual property tax bill reaches $4,085, exceeding the national median of $2,690. Property taxes in Yellow Springs 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 Yellow Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Yellow Springs 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
Yellow Springs, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.97%
Estimate Property Tax Bill
$4,308
$3,998
Ownwell’s Yellow Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Yellow Springs with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Yellow Springs to estimate your property tax bill. This valuable tool helps you grasp potential tax obligations. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value, determined by the county for property tax purposes, takes into account any applicable exemptions.
Property Tax Rates Across Yellow Springs, Ohio
Property taxes in Yellow Springs, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yellow Springs 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 Yellow Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yellow Springs 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 Yellow Springs' effective property tax rate to other counties in Ohio and the national median. For comparison, the 45387 zip code has the highest median property tax rate of 1.97%, while the same zip code also has the lowest median tax rate of 1.97%. Understanding how these areas compare with Yellow Springs 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 Yellow Springs Tax Rate
1.97%
Average Greene County Tax Rate
2.02%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yellow Springs, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45387 | 1.63% | 1.76% | 1.97% | 2.03% | 2.03% |
Source: Ownwell
Property Tax Assessment Values Across Yellow Springs, Ohio
In Yellow Springs, 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 Yellow Springs, 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 Yellow Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,085, found in the 45387 zip code.
Average Yellow Springs Assessed Value
$218,700
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 Yellow Springs, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45387 | $129,325 | $167,835 | $218,700 | $289,142 | $357,770 |
Source: Ownwell
Property Tax Bills Across Yellow Springs, Ohio
In Yellow Springs, located in Greene County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $218,700. Tax rates are applied to the assessed value to determine the tax bill. Factors such as property location, market conditions, and local government budgets influence these rates. Homeowners in Yellow Springs experience varying tax bills. The 25th percentile tax bill is approximately $3,072, while the 75th percentile reaches around $5,521. At the 90th percentile, homeowners can expect to pay about $6,862. The median tax bill for the area stands at $4,085, which is higher than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Yellow Springs Tax Bill
$4,085
Average Greene County Tax Bill
$3,355
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Yellow Springs, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45387 | $2,139 | $3,072 | $4,085 | $5,521 | $6,862 |
Source: Ownwell