Leipsic, Ohio Property Taxes
The median property tax rate in Leipsic, OH is 0.88%, which is lower than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Leipsic at $240,150, the typical annual property tax bill amounts to $2,595, slightly below the national median of $2,690. Property taxes in Leipsic are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Navigating Leipsic's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Leipsic or another part of the city, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Leipsic, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$2,113
Ownwell’s LEIPSIC Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LEIPSIC with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LEIPSIC 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 Leipsic, Ohio
Property taxes in Leipsic, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leipsic is 0.88%, slightly below the U.S. national median of 0.99%. Local government entities within Leipsic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leipsic 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 Leipsic's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45856 zip code has the same median property tax rate of 0.88%. Understanding how these cities compare with Leipsic provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leipsic Tax Rate
0.88%
Average Henry County Tax Rate
0.78%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leipsic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45856 | 0.53% | 0.82% | 0.88% | 0.95% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Leipsic, Ohio
In Leipsic, 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 Henry 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 Leipsic, 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 Leipsic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,595, found in the zip code 45856.
Average Leipsic Assessed Value
$240,150
Average Henry County Assessed Value
$213,460
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leipsic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45856 | $130,930 | $180,300 | $240,150 | $483,800 | $813,156 |
Source: Ownwell
Property Tax Bills Across Leipsic, Ohio
In Leipsic, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $240,150, homeowners in Leipsic can expect varying tax bills. At the 25th percentile, the tax bill is around $1,816, while at the 75th percentile, it rises to approximately $3,762. Those at the 90th percentile may see tax bills as high as $4,958. Several factors influence these tax bills, including the property's location within Henry County and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Leipsic's property tax rates can significantly impact homeowners' annual expenses. Understanding these factors helps homeowners in Leipsic better anticipate their financial obligations and plan accordingly.
Average Leipsic Tax Bill
$2,595
Average Henry County Tax Bill
$1,746
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Leipsic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45856 | $1,519 | $1,816 | $2,595 | $3,762 | $4,958 |
Source: Ownwell