South Point, Ohio Property Taxes
The median property tax rate in South Point, OH is 1.08%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $104,140 in South Point, the typical annual property tax bill amounts to $1,081, which is below the national median of $2,690. Property taxes in South Point are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding South Point'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 South Point or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Point, 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 South Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Point 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 South Point, Ohio
Property taxes in South Point, Ohio are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Point is 1.08%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within South Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Point 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 South Point's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45680 zip code has the highest median property tax rate of 1.08%, while the same zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with South Point provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Point Tax Rate
1.08%
Average Lawrence County Tax Rate
1.02%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Point, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45680 | 0.84% | 1.03% | 1.08% | 1.19% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across South Point, Ohio
In South Point, 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 Lawrence 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 South Point, 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 South Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in South Point is $104,140, with tax bills ranging from $583 at the 25th percentile to $2,107 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,081, found in the 45680 zip code.
Average South Point Assessed Value
$104,140
Average Lawrence County Assessed Value
$85,530
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Point, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45680 | $16,786 | $61,875 | $104,140 | $141,788 | $191,855 |
Source: Ownwell
Property Tax Bills Across South Point, Ohio
In South Point, located in Lawrence County, OH, property tax bills are determined by several key factors. The primary factor is the assessed value of the property, which is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For South Point, the median home price is $104,140, and property tax rates can vary, but the national median is 0.99%. Homeowners in South Point can expect their property tax bills to range significantly. For instance, the tax bill at the 25th percentile is $583, while at the 75th percentile, it rises to $1,541. At the 90th percentile, it can reach up to $2,107. These variations depend on the property's assessed value and specific local tax rates. Understanding these factors is crucial for homeowners as they directly impact annual financial planning and the overall cost of homeownership in South Point.
Average South Point Tax Bill
$1,081
Average Lawrence County Tax Bill
$879
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across South Point, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45680 | $178 | $583 | $1,081 | $1,541 | $2,107 |
Source: Ownwell