Franklin County Real Estate Tax Information
Real estate taxes in Franklin County are due in January and in June. Because real esate taxes are billed in arrears, the tax bill due in January will be for the first half of the prior year. You should receive this tax bill in December.
For example, the tax bill you receive in December of 2000 will be due in January of 2001 and is assessed for the time from January 1, 2000 through June 30, 2000.
Remember that the property owner is responsible for paying their real estate taxes by the due date, whether a tax bill is received or not. If you feel you should have received your tax bill and have not, contact the Franklin County Treasurer's Office at (614) 462-4348.
Second half real estate taxes in Franklin County are billed in May and are due in June.
For example, the tax bill you receive in May of 2000 will be due in June of 2000 and is assessed for the time from July 1, 1999 through December 31, 1999.
Franklin County Real Estate Tax Rates
Franklin County Conveyance Fees
A conveyance fee, also known as a transfer tax, is a state-imposed tax on the transfer of real property and is based on the purchase price of that property. In Franklin County, the conveyance fee is set at $2.00 per thousand dollars of the purchase price plus $0.50 per parcel.
The seller should be prepared to pay the "per thousand" portion of the conveyance fee, while the buyer usually pays for the "per parcel" fee.
For example, if a parcel of land is sold for $250,000.00, the conveyance fees associated with this sale would be $250.50. In most circumstances, the seller would pay $250.00 while the buyer pays $0.50.
How to Calculate Property Taxes
The calculations below show how you can estimate your real estate tax bill.
The calculations used in this example are for a $250,000.00 home in the city of Columbus tax district (district number 010). Refer to the current Franklin County Tax Rates for the derivation of the numbers used in the following example.
1. Determine the Assessed Value
Formula: Appraised Value * 35% = Assessed Value
Example: $250,000.00 * 0.35 = $87,500.00
2. Determine the Gross Taxable Amount
Formula: (Assessed Value * Effective Rate) / 1000 = Gross Tax
Example: (87,500.00 * 49.036762) / 1000 = $4920.72
Be sure to use the proper Effective Rate. There is one for residential and agricultural property and another one for all other types of property.
3. Calculate the Rollback Credit
Formula: Gross Tax * Rollback = Rollback Credit
Example: $4290.72 * 0.125 = $536.34
For owner-occupied residential properties, the Rollback Credit is 12.5% of the Gross Taxable Amount. For all other types of property, the Rollback Credit is 10% of the Gross Taxable Amount.
4. Reduce Gross Taxable Amount by Rollback Credit
Formula: Gross Tax – Rollback Credit = Net Annual Tax
Example: $4290.72 – $536.34 = $3754.38
Remember that there are other credits that may affect your net annual tax. Such credits may be the Homestead Reduction or the Farm Value Reduction (CAUV). Also note that if there is additional millage that is voted in, the above method of estimating taxes will be inaccurate. Please contact Nancy Martin in our Title Department if you have any questions.
Franklin County Contact Information
Franklin County Courthouse
373 South High Street
Columbus, Ohio 43215
Treasurer (614) 462-3438
Auditor (614) 462-3253
Recorder (614) 462-3930