Intro:
It’s one of those phrases people toss around like they’re interchangeable — “real estate taxes” and “property taxes.” But are they really the same thing? Around Columbus, I hear this question from both buyers moving in from out of state and long-time homeowners trying to decode their escrow statement. Let’s clear up the confusion once and for all.
1. Real Estate Taxes = Property Taxes (Mostly)
In almost every situation in Central Ohio, “real estate tax” and “property tax” mean the same thing — a tax you pay on the assessed value of the land and structures you own. The official terminology might differ between counties, but functionally, they’re identical.
2. Who Collects These Taxes in Columbus
In Franklin, Delaware, and Union Counties, these taxes are collected by the county auditor’s office. They fund local services like schools, fire departments, and road maintenance — the stuff that keeps communities like Powell, Dublin, and Westerville running smoothly.
3. How They’re Calculated
Each county determines an assessed value (not necessarily your market value), then applies a millage rate — essentially, how much per $1,000 of assessed value you pay. Different school districts, municipalities, and levies add up to your total tax bill.
4. When You’ll Pay Them
Most homeowners in the Columbus area pay property taxes twice a year, often through their mortgage escrow account. That means you’re pre-paying a little each month so you’re not hit with a big bill later.
5. Why It Matters When Buying or Selling
Taxes can swing dramatically between neighborhoods — two homes with identical prices can have very different annual costs based on school district or township. A knowledgeable local Realtor (hi 👋) will factor that into your home search or pricing strategy.
CTA:
👉 Thinking about buying or selling in Columbus, Powell, or Dublin? Let’s sit down and walk through how property taxes impact your total cost — and which neighborhoods offer the best value.
[Contact Patrick Murphy, Realtor — Columbus, Powell & Dublin Expert]