43344 Property Tax Rate

Property owners in ZIP code 43344 (Richwood, Ohio) pay a median of $2,624/year in property taxes on homes valued at $218,300. This translates to an effective tax rate of 1.20%, which is 3% below the Ohio state average of 1.24%.

The monthly property tax burden for a median-valued home in 43344 is approximately $219, which factors into escrow payments on mortgages. This ZIP code is located within Union County. This is $320 more than the Ohio average of $2,304/year.

Compared to similar ZIP codes in Ohio, 43344 has higher property taxes. ZIP codes with similar effective rates include 45806 (1.20%) and 43031 (1.20%).

In Richwood, property taxes represent approximately 3.3% of the median household income of $80,087, 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.