A key factor in the Columbus area’s cost of living is property taxes. Property taxes in Ohio are due twice a year in February and July and are paid in arrears. For example, a tax bill due in February 2011 would be for payment of the tax period from January –June of 2010. For this reason, pro-rated tax money must be collected from the seller of a property at the time of closing to cover taxes due for periods which they owned the property. Tax information for specific properties can be found on individual county auditor websites. Property taxes are determined by many factors but one of the largest determiners is the school district a home is found in. Some areas have higher taxes than others and taxes should be considered when determining the amount of home you can afford since in most cases they will be added onto your monthly payment.
For more information or if you are thinking about buying or selling a home, click here to contact The Village Partners or call/text 740-587-0141.