Laurelville, Ohio Property Taxes
The median property tax rate in Laurelville, Ohio is 1.41%, 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 Laurelville at $111,600, the typical annual property tax bill reaches $1,855, falling below the national median of $2,690. Property taxes in Laurelville 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 Laurelville'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 Laurelville 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
Laurelville, 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 LAURELVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LAURELVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LAURELVILLE 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 Laurelville, Ohio
Property taxes in Laurelville, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Laurelville is 1.41%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Laurelville set these rates annually, and they can vary considerably across different neighborhoods. Each year, Laurelville estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 Laurelville's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43135 has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Laurelville provides valuable insights into the varying tax landscape across Hocking County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laurelville Tax Rate
1.41%
Average Hocking County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laurelville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43135 | 1.15% | 1.38% | 1.41% | 1.44% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Laurelville, Ohio
In LAURELVILLE, 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 Hocking 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 LAURELVILLE, 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 LAURELVILLE 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 $1855, found in the 43135 zip code.
Average Laurelville Assessed Value
$111,600
Average Hocking County Assessed Value
$109,310
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laurelville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43135 | $14,380 | $49,496 | $111,600 | $197,328 | $306,793 |
Source: Ownwell
Property Tax Bills Across Laurelville, Ohio
In Laurelville, property tax bills are calculated based on the assessed value of the property, which is determined by the Hocking County assessor's office. The assessed value is typically a percentage of the property's market value. For example, if the median home price in Laurelville is $111,600, the assessed value will be a fraction of this amount, depending on local assessment ratios. Once the assessed value is established, the property tax rate is applied. This rate can vary, but the national median property tax rate is 0.99%. In Laurelville, property tax bills show significant variation, with the 25th percentile bill around $1,110 and the 75th percentile reaching $3,023. For those in the 90th percentile, tax bills can go up to $4,620. These variations can significantly impact homeowners, influencing their monthly mortgage payments and overall housing affordability. The highest and lowest median tax bills are both $1,855, indicating some consistency in specific areas within the 43135 zip code.
Average Laurelville Tax Bill
$1,855
Average Hocking County Tax Bill
$1,629
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Laurelville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43135 | $561 | $1,110 | $1,855 | $3,023 | $4,620 |
Source: Ownwell