Lodi, Ohio Property Taxes
The median property tax rate in Lodi, OH is 1.42%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Lodi at $153,000, the typical annual property tax bill reaches $2,307, slightly below the national median of $2,690. Property taxes in Lodi 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 Lodi'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 Lodi 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
Lodi, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$2,173
Ownwell’s Lodi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lodi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lodi 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 Lodi, Ohio
Property taxes in Lodi, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lodi is 1.42%, higher than the U.S. national median of 0.99%. Local government entities within Lodi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lodi 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 Lodi's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44254 zip code has the highest median property tax rate of 1.42%, while the 44254 zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Lodi provides valuable insights into the varying tax landscape across Medina County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lodi Tax Rate
1.42%
Average Medina County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lodi, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44254 | 1.25% | 1.34% | 1.42% | 1.66% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Lodi, Ohio
In Lodi, 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 Medina 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 Lodi, 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 Lodi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lodi are both $2,307, found in zip code 44254.
Average Lodi Assessed Value
$153,000
Average Medina County Assessed Value
$233,850
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lodi, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44254 | $85,990 | $113,000 | $153,000 | $217,790 | $304,444 |
Source: Ownwell
Property Tax Bills Across Lodi, Ohio
In Lodi, located in Medina County, OH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the home's market value. For example, with a median home price of $153,000, the assessed value will be a fraction of this amount, depending on local assessment practices. The tax rate is then applied to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Lodi can expect their property tax bills to vary, with the 25th percentile at $1,752 and the 75th percentile at $3,060. For those in the 90th percentile, the tax bill can reach up to $4,110. These property taxes fund essential local services, including schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Lodi Tax Bill
$2,307
Average Medina County Tax Bill
$3,537
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lodi, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44254 | $1,321 | $1,752 | $2,307 | $3,060 | $4,110 |
Source: Ownwell