Neapolis, Ohio Property Taxes
The median property tax rate in Neapolis, OH is 1.99%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Neapolis at $78,050, the typical annual property tax bill reaches $1,485, exceeding the national median of $2,690. Property taxes in Neapolis 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 Neapolis'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 Neapolis 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
Neapolis, 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 Neapolis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Neapolis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Neapolis 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 Neapolis, Ohio
Property taxes in Neapolis, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Neapolis is 1.99%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Neapolis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Neapolis 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 Neapolis's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43547 zip code has the highest median property tax rate of 1.99%, while the same zip code also has the lowest median tax rate of 1.99%. Understanding how these cities compare with Neapolis provides valuable insights into the varying tax landscape across Lucas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Neapolis Tax Rate
1.99%
Average Lucas County Tax Rate
2.38%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Neapolis, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43547 | 1.51% | 1.98% | 1.99% | 2.03% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Neapolis, Ohio
In Neapolis, 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 Lucas 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 Neapolis, 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 instance, in Neapolis, the highest median tax bill is $1485 in the 43547 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Neapolis Assessed Value
$78,050
Average Lucas County Assessed Value
$95,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Neapolis, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43547 | $7,410 | $23,500 | $78,050 | $122,175 | $175,270 |
Source: Ownwell
Property Tax Bills Across Neapolis, Ohio
In Neapolis, located in Lucas County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. For example, with a median home price of $78,050, the assessed value would be a fraction of this amount. The tax rate is then applied to the assessed value to calculate the tax bill. Various factors influence the tax bill, including property size, location, and any applicable exemptions or abatements. Homeowners in Neapolis can expect a range of tax bills, with the 25th percentile at $503 and the 75th percentile at $2,336. The 90th percentile reaches up to $3,426, indicating a significant variance based on property characteristics and exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Neapolis may find their tax bills to be relatively aligned or slightly higher, depending on the specific assessed value and local tax rates. This variability can significantly impact household budgets and financial planning for residents.
Average Neapolis Tax Bill
$1,485
Average Lucas County Tax Bill
$2,348
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Neapolis, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43547 | $192 | $503 | $1,485 | $2,336 | $3,426 |
Source: Ownwell