Leetonia, Ohio Property Taxes
The median property tax rate in Leetonia, OH is 1.23%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Leetonia, the typical annual property tax bill reaches $1,229, falling below the national median of $2,690. Property taxes in Leetonia are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Leetonia'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 Leetonia or another part of Columbiana County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leetonia, 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 Leetonia Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Leetonia with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Leetonia to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Leetonia, Ohio
Property taxes in Leetonia, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leetonia is 1.23%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Leetonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leetonia 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 Leetonia's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44431 zip code has the highest median property tax rate of 1.23%, while the 44431 zip code has the lowest median tax rate of 1.23%. Understanding how these cities compare with Leetonia provides valuable insights into the varying tax landscape across Columbiana, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leetonia Tax Rate
1.23%
Average Columbiana County Tax Rate
1.27%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leetonia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44431 | 0.98% | 1.20% | 1.23% | 1.25% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Leetonia, Ohio
In Leetonia, 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 Columbiana 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 Leetonia, 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. For instance, the median home price in Leetonia is $105,250, with tax bills ranging from $831 at the 25th percentile to $2,842 at the 90th percentile. 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 Leetonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leetonia Assessed Value
$105,250
Average Columbiana County Assessed Value
$95,700
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leetonia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44431 | $41,250 | $71,325 | $105,250 | $156,975 | $236,250 |
Source: Ownwell
Property Tax Bills Across Leetonia, Ohio
In Leetonia, property tax bills are calculated based on the assessed value of a home, which is determined by the Columbiana County tax assessor. The assessed value is a percentage of the property's market value. For instance, with a median home price of $105,250, the tax assessor evaluates the property to establish its assessed value. This value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Leetonia, the property tax bill can vary significantly. The 25th percentile tax bill is around $831, while at the 75th percentile, it reaches approximately $1,847. At the 90th percentile, homeowners might see tax bills as high as $2,842. Understanding these calculations helps homeowners budget effectively and anticipate their annual expenses. Compared to the national median property tax rate of 0.99%, Leetonia's property tax rates reflect the local economic landscape and public service funding requirements.
Average Leetonia Tax Bill
$1,229
Average Columbiana County Tax Bill
$1,157
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Leetonia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44431 | $434 | $831 | $1,229 | $1,847 | $2,842 |
Source: Ownwell