Free Ohio seller net sheet calculator

Ohio has no statewide transfer tax on an ordinary sale, but 4 rules apply in some places or cases. On top of that, 4 county or city transfer taxes apply in parts of the state; the calculator adds them when you choose the county.

With no county or city chosen, the transfer tax on a $500,000 sale is about $2,000, customarily paid by the seller. Some counties and cities charge a different or additional rate.

On a $400,000 sale with a 5% commission, estimated seller costs in Ohio come to about $24,094 (6% of the price), including $20,000 of commission. Without commission, closing costs are about $4,094. Local taxes, the payoff, and property tax prorations change the final number.

Seller pays the owner's policy in central and southwest Ohio; split 50/50 by custom in northeast Ohio (Cuyahoga area).

Closings are usually handled by a title company.

Property taxes are paid in arrears. The typical effective rate is about 1.5% of value per year. Taxes are paid six to twelve months in arrears (halves in Jan/Feb and Jun/Jul for the prior year). Franklin County uses 'long' proration (credit for the prior year plus the current year through closing); Hamilton County uses 'short' proration (current year only). This estimate covers the current year only.