Guide to Ohio Property Taxes for New Albany Homebuyers

Property taxes can feel like a moving target when you are comparing homes in New Albany. You want a clear way to estimate your bill, understand what drives differences between neighborhoods, and see which exemptions might help your budget. This guide breaks down how Ohio calculates property taxes, what shows on a New Albany bill, and the steps to compare homes across Franklin and Licking counties with confidence. Let’s dive in.

How Ohio property taxes work

Market and assessed value

Ohio taxes real property on a fraction of market value. County auditors determine a home’s true market value, then apply the statutory assessment rate. In Ohio, the assessed value is typically 35% of market value before any reductions.

Millage and your annual bill

Local taxing authorities set millage. One mill equals one dollar per $1,000 of taxable value. After rollbacks and exemptions, your taxable value is multiplied by the total mills for your parcel to produce the annual tax.

• Annual property tax = (Taxable value ÷ 1,000) × Total mills.
• Millage is parcel specific and reflects all applicable local entities.

Inside vs. outside millage

Your total rate is a mix of inside millage authorized by law and outside millage approved by voters. Voter levies fund services like schools, libraries, parks, and fire protection. These voted items are a major reason taxes can vary between nearby neighborhoods.

What shows on a New Albany bill

Typical taxing authorities

Depending on where the parcel sits, your bill may include levies from:

• County government (Franklin or Licking, depending on the parcel)
• Municipality or township
• School district levies (often New Albany–Plain Local School District; always verify the parcel’s district)
• Library and park or recreation districts
• Fire and emergency services
• Special districts or assessments for services like water or sewers

Common line items to review

• Assessed value: 35% of market value.
• Taxable value: assessed value after rollbacks and exemptions.
• Inside vs. outside millage: baseline statutory mills and voter‑approved levies.
• Voted and renewal levies: line items approved by voters that may renew or expire.
• Special assessments: charges for specific improvements such as sidewalks or lights, listed separately from ad valorem taxes.
• Rollbacks or credits: reductions that appear as separate lines for eligible residential or agricultural property.

Exemptions and reductions

Homestead exemption

Qualifying seniors and disabled homeowners may receive tax relief based on age or disability and income thresholds. You must apply with the appropriate county auditor, and deadlines apply.

Rollbacks and credits

Ohio provides statutory reductions for certain residential and agricultural categories. These lower the taxable value before mills are applied and appear separately on your bill.

CAUV and special cases

Parcels in active agricultural use may be taxed on Current Agricultural Use Value rather than market value. Some properties may also be affected by development tools like tax increment financing or abatements, which can change how revenue is distributed or how value is shown. Eligibility and impact vary by parcel.

Comparing neighborhoods and counties

Key drivers of differences

• School district levies and district assignment
• Voter‑approved levies and their renewal status
• Municipal or township levies for services like fire, police, and parks
• Special assessments or service districts
• Differences in assessed history versus current market value
• Parcel‑specific abatements or TIFs

Step‑by‑step comparison checklist

1. Pull the parcel’s assessed and taxable values from the county auditor where the property is located.
2. Confirm the parcel’s school district. Boundaries do not always match the city limits.
3. Review recent tax bills to spot trends from new levies or renewals.
4. Ask about special assessments, pending levies, or development agreements that affect the parcel.
5. Calculate an effective tax rate for easy comparison: Effective rate = (Annual tax ÷ Market value) × 100.
6. For budgeting, estimate monthly escrow: Monthly tax = Annual tax ÷ 12.

Budgeting for your purchase

Quick estimate formula

Use the parcel’s current taxable value and total mills to estimate the annual bill.

• Annual taxes = (Taxable value ÷ 1,000) × Total mills.
• Monthly estimate = Annual taxes ÷ 12.

Illustrative example: If market value is $400,000, the assessed value is 35%, or $140,000. After rollbacks or exemptions, say taxable value is $126,000. With a total of 80 mills, taxes are ($126,000 ÷ 1,000) × 80 = $10,080 per year, or about $840 per month. Always confirm exact figures with the county auditor.

What to ask before you offer

• Request the most recent property tax bill and payment history.
• Verify the school district and municipal or township boundaries for the parcel.
• Ask whether any exemptions or abatements are active and if you must reapply after closing.
• Confirm any special assessments and whether new levies are pending.

Sellers: prepare for questions

• Provide your latest tax bill and note any special assessments.
• Disclose any active exemptions such as homestead or veterans’ programs.
• Share any notices about pending levies or changes that could affect the next bill.

When to call the experts

• County auditor and treasurer for official amounts, exemptions, and payment history.
• Title company or closing attorney for prorations and payoff at closing.
• Your real estate agent for local trends and typical effective tax ranges by neighborhood.
• A tax professional for complex exemptions, CAUV, appeals, or valuation questions.

Ready for guidance?

Taxes do not have to be a guessing game. With a clear view of assessed value, millage, and exemptions, you can compare New Albany homes with confidence and budget accurately. If you want help pulling parcel reports, interpreting line items, or estimating monthly escrow as you tour properties, connect with Greg Giessler for a clear, practical plan.

FAQs

How are Ohio property taxes calculated for a home purchase?

• Ohio applies 35% to market value to get assessed value, adjusts for rollbacks and exemptions to get taxable value, then multiplies by total mills to determine the annual tax.

What does millage mean on a New Albany tax bill?

• Millage is the tax rate per $1,000 of taxable value and reflects all applicable entities such as county, municipality or township, school district, library, parks, and fire services.

Does a New Albany home fall in Franklin or Licking County?

• Parcels can be in Franklin County, Licking County, or areas where services differ; always check the property’s county auditor record to confirm where it is taxed.

How does the homestead exemption work in Ohio?

• Qualifying seniors or disabled homeowners who meet income thresholds can apply with the county auditor for a reduction that lowers their taxable value or provides a credit.

How can I estimate my monthly escrow for taxes?

• Use the parcel’s taxable value and total mills to compute annual taxes, then divide by 12 to get a monthly estimate that you can add to your housing budget.