43140 Property Tax Rate

Property owners in ZIP code 43140 (London, Ohio) pay a median of $2,165/year in property taxes on homes valued at $228,000. This translates to an effective tax rate of 0.95%, which is 23% below the Ohio state average of 1.24%.

The monthly property tax burden for a median-valued home in 43140 is approximately $180, which factors into escrow payments on mortgages. This ZIP code is located within Madison County.

Compared to similar ZIP codes in Ohio, 43140 has lower property taxes. ZIP codes with similar effective rates include 43144 (0.95%) and 44669 (0.95%).

In London, property taxes represent approximately 2.6% of the median household income of $82,598, 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. Madison County primary residences qualify for a 2.5% Owner-Occupancy Credit, while homeowners 65+ or disabled can claim the Homestead Exemption — the credit saves approximately $52 annually on the median home. Submit your homestead registration to the Madison County Auditor within 30 days of purchase to ensure the credit appears on your first bill.