London, Madison County, Ohio Property Taxes
Median London, OH effective property tax rate: 1.50%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median London, OH home value: $141,745
Median annual London, OH tax bill: $2098, $302 lower than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in London, OH are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding London’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in London, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
London, Madison County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.5%
Estimate Property Tax Bill
$2,126
$1,973
Property Tax Rates Across London, Madison County, Ohio
Local government entities determine tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In London, located in Madison County, Ohio, the effective property tax rate is noteworthy. The city shares the same rate as the highest and lowest median tax rate within the county, reflecting a uniformity across the region. When compared to national figures, London's rate stands above the national median property tax rate of 1.02%. This suggests that property owners in London contribute a higher percentage of their property's assessed value in taxes than the average American property owner. Such comparisons highlight the importance of understanding local tax dynamics, which can significantly impact property expenses. For property owners in London, this underscores the potential benefits of exploring property tax appeal and exemption services to ensure they are not overpaying.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective London Tax Rate
1.50%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Madison County Tax Rate
1.59%
Median Effective Ohio Tax Rate
1.80%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across London, Madison County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43140 | 1.27% | 1.40% | 1.50% | 1.62% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across London, Madison County, Ohio
When examining property taxes in London, Ohio, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Madison County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Madison County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in London. For example, the median home price in London is $141,745, with tax bills ranging significantly across the county. Zip code 43140 has the highest median home price at $141,745.
Property Tax Assessment Values Across London, Madison County, Ohio
Source: Ownwell
$78,580
$165,693
$252,805
Median London Market Value
$141,745
Median Madison County Market Value
$142,200
Median Ohio Market Value
$133,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across London, Madison County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43140 | $40,736 | $92,438 | $141,745 | $215,085 | $300,776 |
Source: Ownwell
Property Tax Bills Across London, Madison County, Ohio
Median London Tax Bill
$2,098
Median Madison County Tax Bill
$2,428
Median Ohio Tax Bill
$2,396
Median United States Tax Bill
$2,400
Property Tax Bills Across London, Madison County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43140 | $618 | $1,331 | $2,098 | $3,406 | $4,841 |
Source: Ownwell