43123 Property Tax Rate

Property owners in ZIP code 43123 (Grove City, Ohio) pay a median of $3,956/year in property taxes on homes valued at $262,400. This translates to an effective tax rate of 1.51%, which is 22% above the Ohio state average of 1.24%.

The monthly property tax burden for a median-valued home in 43123 is approximately $330, which factors into escrow payments on mortgages. This ZIP code is located within Franklin County. This is $1,652 more than the Ohio average of $2,304/year.

Compared to similar ZIP codes in Ohio, 43123 has higher property taxes. ZIP codes with similar effective rates include 44661 (1.51%) and 45242 (1.51%).

In Grove City, property taxes represent approximately 4.5% of the median household income of $87,883, 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.