45505 Property Tax Rate

Property owners in ZIP code 45505 (Springfield, Ohio) pay a median of $1,223/year in property taxes on homes valued at $87,500. This translates to an effective tax rate of 1.40%, which is 13% above the Ohio state average of 1.24%.

The monthly property tax burden for a median-valued home in 45505 is approximately $102, which factors into escrow payments on mortgages. This ZIP code is located within Clark County. This is $1,081 less than the Ohio average of $2,304/year.

Compared to similar ZIP codes in Ohio, 45505 has lower property taxes. ZIP codes with similar effective rates include 44643 (1.40%) and 45673 (1.40%).

In Springfield, property taxes represent approximately 2.9% of the median household income of $42,409, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 45505, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Clark County's tax assessor directly.