Lakeview, Ohio Property Taxes
The median property tax rate in Lakeview, OH is 1.90%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Lakeview, the typical annual property tax bill reaches $935, which is below the national median of $2,690. Property taxes in Lakeview are calculated based on the tax assessed value, which typically falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lakeview'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 Lakeview or another part of Logan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lakeview, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.9%
Estimate Property Tax Bill
$944
Ownwell’s Lakeview Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lakeview. By simply entering your property's estimated assessed value, the calculator uses the median tax rate specific to Lakeview to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities. For those interested in more detailed insights, scroll down to find trends and localized information at the neighborhood level. Your property’s assessed value, determined by Logan County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Lakeview, Ohio
Property taxes in Lakeview, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeview is 1.90%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Lakeview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeview 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 Lakeview's effective property tax rate to other areas in Ohio and the national median. For comparison, the 43331 zip code has the highest median property tax rate of 1.90%, while the same zip code also has the lowest median tax rate of 1.90%. Understanding how these areas compare with Lakeview provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeview Tax Rate
1.90%
Average Logan County Tax Rate
1.65%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeview, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43331 | 1.54% | 1.67% | 1.90% | 1.98% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Lakeview, Ohio
In Lakeview, 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 Logan County Auditor 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 Lakeview, 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 example, the median home price in Lakeview is $49,660, with tax bills ranging from $333 at the 25th percentile to $3,802 at the 90th percentile. The highest median tax bill of $935 is found in the 43331 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakeview Assessed Value
$49,660
Average Logan County Assessed Value
$106,220
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeview, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43331 | $7,010 | $17,270 | $49,660 | $106,300 | $204,518 |
Source: Ownwell
Property Tax Bills Across Lakeview, Ohio
Property tax bills in Lakeview, Logan County, Ohio, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the tax bill. For homeowners in Lakeview, the median home price is $49,660. With the national median property tax rate at 0.99%, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Factors that influence the tax bill include the property's location within the county, any applicable exemptions, and changes in local government budgets. For example, the 25th percentile tax bill is $333, while the 75th percentile tax bill is $1,884, and the 90th percentile tax bill reaches $3,802. This wide range shows how different factors can significantly impact the final amount a homeowner owes. Understanding these elements helps homeowners anticipate their property tax obligations and plan accordingly.
Average Lakeview Tax Bill
$935
Average Logan County Tax Bill
$1,716
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeview, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43331 | $133 | $333 | $935 | $1,884 | $3,802 |
Source: Ownwell