43036 Property Tax Rate

Property owners in ZIP code 43036 (Magnetic Springs, Ohio) pay a median of $1,349/year in property taxes on homes valued at $121,300. This translates to an effective tax rate of 1.11%, which is 10% below the Ohio state average of 1.24%.

The monthly property tax burden for a median-valued home in 43036 is approximately $112, which factors into escrow payments on mortgages. This ZIP code is located within Union County. This is $955 less than the Ohio average of $2,304/year.

Compared to similar ZIP codes in Ohio, 43036 has higher property taxes. ZIP codes with similar effective rates include 45347 (1.11%) and 44857 (1.11%).

In Magnetic Springs, property taxes represent approximately 2.1% of the median household income of $64,500, providing context for the relative tax burden on homeowners in this area.

Ohio reassesses property at each sale, with the county auditor conducting triennial revaluations for existing owners; your purchase price becomes the new assessed value. Union County offers the Homestead Exemption for seniors 65+ and disabled owners, plus a 2.5% Owner-Occupancy Credit available to all primary residences that typically saves $400–$600 annually on median-priced homes. Submit your homestead application to the Union County Auditor's office before your first tax bill arrives to activate the credit.