43054 Property Tax Rate

Property owners in ZIP code 43054 (New Albany, Ohio) pay a median of $9,767/year in property taxes on homes valued at $483,100. This translates to an effective tax rate of 2.02%, which is 63% above the Ohio state average of 1.24%.

The monthly property tax burden for a median-valued home in 43054 is approximately $814, which factors into escrow payments on mortgages. This ZIP code is located within Franklin County. This is $7,463 more than the Ohio average of $2,304/year.

Compared to similar ZIP codes in Ohio, 43054 has higher property taxes. ZIP codes with similar effective rates include 44147 (2.02%) and 45778 (2.02%).

In New Albany, property taxes represent approximately 7.0% of the median household income of $139,679, providing context for the relative tax burden on homeowners in this area.

Ohio provides a 2.5% Owner-Occupancy Credit for owner-occupied primary residences, reducing assessed value, but you must claim this and file for Senior (65+) or Disabled exemptions with the Franklin County Auditor to maximize savings. Franklin County reassesses property values every three years through its triennial reassessment cycle, and values can shift substantially; request your Property Record Card from the Franklin County Auditor within 30 days of closing to confirm your initial assessed value. File your Owner-Occupancy Credit claim and any exemption applications with the Franklin County Auditor by the March deadline, and file a BVA (Board of Revision) appeal by March 31 if you dispute the assessed value.