Lucas, Ohio Property Taxes
The median property tax rate in Lucas, OH is 1.50%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Lucas, the typical annual property tax bill reaches $1,516, falling below the national median of $2,690. Property taxes in Lucas are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lucas's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lucas or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lucas, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Lucas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lucas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lucas to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lucas, Ohio
Property taxes in Lucas, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lucas is 1.56%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Lucas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lucas estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lucas's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44843 zip code has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Lucas provides valuable insights into the varying tax landscape across Ashland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lucas Tax Rate
1.50%
Average Ashland County Tax Rate
1.52%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lucas, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44843 | 1.21% | 1.47% | 1.50% | 1.51% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Lucas, Ohio
In Lucas, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Ashland County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lucas, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lucas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 44843 has the highest median tax bill at $1,516, while also having the lowest at $1,516.
Average Lucas Assessed Value
$104,760
Average Ashland County Assessed Value
$108,690
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lucas, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44843 | $72,530 | $85,478 | $104,760 | $126,902 | $170,093 |
Source: Ownwell
Property Tax Bills Across Lucas, Ohio
In Lucas, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For instance, if a home is valued at $104,760, the assessed value is determined by local assessment practices. The tax rate is then applied to this assessed value to compute the tax bill. Factors such as local levies, school funding requirements, and municipal needs play a significant role in determining the final tax rate. Homeowners in Lucas can expect to pay a range of property taxes. For example, those in the 25th percentile might see a tax bill around $1,145, while those in the 75th percentile could pay approximately $1,862. At the 90th percentile, the tax bill can reach up to $2,550. These property taxes directly impact homeowners by influencing their overall housing costs and potentially affecting their financial planning. Comparing to the national median property tax rate of 0.99%, Lucas's property taxes can vary significantly, reflecting the unique local economic conditions and funding requirements.
Average Lucas Tax Bill
$1,516
Average Ashland County Tax Bill
$1,522
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lucas, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44843 | $1,038 | $1,145 | $1,516 | $1,862 | $2,550 |
Source: Ownwell