Granville, Ohio Property Taxes
The median property tax rate in Granville, OH is 3.96%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Granville at $291,300, the typical annual property tax bill reaches $9,889, far exceeding the national median of $2,690. Property taxes in Granville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Granville'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 Granville or another part of Licking County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Granville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.96%
Estimate Property Tax Bill
$11,535
$10,705
Ownwell’s Granville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granville 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 Granville, Ohio
Property taxes in Granville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granville is 3.96%, significantly higher than both the Ohio state median of 1.51% and the U.S. national median of 0.99%. Local government entities within Granville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Granville 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 Granville's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43023 has the highest median property tax rate of 3.96%, while the same zip code also has the lowest median tax rate of 3.96%. Understanding how these cities compare with Granville provides valuable insights into the varying tax landscape across Licking County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Granville Tax Rate
3.96%
Average Licking County Tax Rate
2.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Granville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43023 | 2.30% | 2.43% | 3.96% | 4.05% | 4.05% |
Source: Ownwell
Property Tax Assessment Values Across Granville, Ohio
In Granville, 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 Licking 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 Granville, 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 Granville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Granville is $291,300, with the highest median tax bill in the 43023 zip code at $9,889.
Average Granville Assessed Value
$291,300
Average Licking County Assessed Value
$163,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Granville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43023 | $128,900 | $202,200 | $291,300 | $413,700 | $583,180 |
Source: Ownwell
Property Tax Bills Across Granville, Ohio
In Granville, located in Licking County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in this area experience property tax rates that are notably higher than the national median of 0.99%. For instance, the median home price in Granville is $291,300, and property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $6,370, while those in the 75th percentile could see bills as high as $15,372. The top 10% of taxpayers might even face property taxes up to $21,754. Factors considered in determining the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, understanding how these factors affect their tax obligations is crucial for financial planning and ensuring they are not overpaying on their property taxes.
Average Granville Tax Bill
$9,889
Average Licking County Tax Bill
$3,689
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Granville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43023 | $3,279 | $6,370 | $9,889 | $15,372 | $21,754 |
Source: Ownwell