Lithopolis, Ohio Property Taxes
The median property tax rate in Lithopolis, OH is 1.45%, which is considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Lithopolis at $268,095, the typical annual property tax bill reaches $3,671, exceeding the national median of $2,690. Property taxes in Lithopolis 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 Lithopolis'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 Lithopolis or another part of Fairfield County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lithopolis, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$3,887
Ownwell’s Lithopolis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lithopolis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lithopolis 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 Lithopolis, Ohio
Property taxes in Lithopolis, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lithopolis is 1.45%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Lithopolis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lithopolis 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 Lithopolis's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43136 has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with Lithopolis provides valuable insights into the varying tax landscape across Fairfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lithopolis Tax Rate
1.45%
Average Fairfield County Tax Rate
1.37%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lithopolis, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43136 | 0.74% | 1.45% | 1.45% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Lithopolis, Ohio
In Lithopolis, 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 Fairfield 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 Lithopolis, 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. The median home price in Lithopolis is $268,095, with the 25th percentile tax bill at $2,563 and the 75th percentile tax bill at $4,468. The highest median tax bill is $3,671 in zip code 43136. 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 Lithopolis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lithopolis Assessed Value
$268,095
Average Fairfield County Assessed Value
$224,580
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lithopolis, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43136 | $148,555 | $215,210 | $268,095 | $312,575 | $358,120 |
Source: Ownwell
Property Tax Bills Across Lithopolis, Ohio
In Lithopolis, located in Fairfield County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local government sets the tax rate, which is then applied to the assessed value to determine the tax bill. Several factors influence the assessed value, including the home's location, size, and condition, as well as recent sales of comparable properties in the area. For homeowners in Lithopolis, the median home price is $268,095. Property tax bills can vary significantly, with the 25th percentile at $2,563 and the 75th percentile at $4,468. At the 90th percentile, homeowners might see tax bills as high as $5,163. The highest median tax bill in the area is $3,671, which is notably higher than the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average Lithopolis Tax Bill
$3,671
Average Fairfield County Tax Bill
$2,962
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lithopolis, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43136 | $392 | $2,563 | $3,671 | $4,468 | $5,163 |
Source: Ownwell