45628 Property Tax Rate

Property owners in ZIP code 45628 (Frankfort, Ohio) pay a median of $1,746/year in property taxes on homes valued at $167,500. This translates to an effective tax rate of 1.04%, which is 16% below the Ohio state average of 1.24%.

The monthly property tax burden for a median-valued home in 45628 is approximately $146, which factors into escrow payments on mortgages. This ZIP code is located within Ross County. This is $558 less than the Ohio average of $2,304/year.

Compared to similar ZIP codes in Ohio, 45628 has higher property taxes. ZIP codes with similar effective rates include 43142 (1.04%) and 44115 (1.04%).

In Frankfort, property taxes represent approximately 2.5% of the median household income of $69,786, 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. Ross County primary residences qualify for a 2.5% Owner-Occupancy Credit (saving approximately $31 annually on the median home), and homeowners 65+ or disabled qualify for the Homestead Exemption for further relief. Contact the Ross County Auditor within 30 days of closing to register your homestead status and ensure the credit is applied.