Long Bottom, Ohio Property Taxes
The median property tax rate in Long Bottom, OH is 1.13%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Long Bottom at $45,070, the typical annual property tax bill is $470, which is significantly below the national median of $2,690. Property taxes in Long Bottom are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Long Bottom'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 Long Bottom or another part of Meigs County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Long Bottom, 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 Long Bottom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Long Bottom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Long Bottom 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 Long Bottom, Ohio
Property taxes in LONG BOTTOM, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LONG BOTTOM is 1.13%, higher than the U.S. national median of 0.99%. Local government entities within LONG BOTTOM set these rates annually, and they can vary significantly across different neighborhoods. Each year, LONG BOTTOM 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 LONG BOTTOM's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45743 zip code has the highest median property tax rate of 1.13%, while the 45743 zip code also has the lowest median tax rate of 1.13%. Understanding how these areas compare with LONG BOTTOM provides valuable insights into the varying tax landscape across Meigs County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Long Bottom Tax Rate
1.13%
Average Meigs County Tax Rate
1.16%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Long Bottom, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45743 | 0.80% | 1.13% | 1.13% | 1.16% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Long Bottom, Ohio
In Long Bottom, 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 Meigs 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 Long Bottom, 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 Long Bottom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 45743 has the highest median tax bill of $470, which is also the lowest, illustrating a uniform tax landscape in the area.
Average Long Bottom Assessed Value
$45,070
Average Meigs County Assessed Value
$39,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Long Bottom, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45743 | $4,500 | $14,545 | $45,070 | $105,695 | $154,582 |
Source: Ownwell
Property Tax Bills Across Long Bottom, Ohio
In Long Bottom, Meigs County, OH, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Homeowners in this region face a median property tax rate of 0.99%, aligning with the national median. For a median home price of $45,070, the tax bill can vary significantly. The 25th percentile tax bill is $155, while the 75th percentile tax bill reaches $1,136, and the 90th percentile tax bill can be as high as $1,678. These variations depend on factors like property location, improvements, and applicable exemptions. Higher property taxes can impact homeowners by increasing their annual expenses, while lower taxes can make homeownership more affordable. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Long Bottom Tax Bill
$470
Average Meigs County Tax Bill
$451
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Long Bottom, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45743 | $51 | $155 | $470 | $1,136 | $1,678 |
Source: Ownwell