Lowell, Ohio Property Taxes
The median property tax rate in Lowell, OH is 1.09%, slightly above the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Lowell at $70,975, the typical annual property tax bill is $745, which is below the national median of $2,690. Property taxes in Lowell are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Lowell'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 Lowell or another part of Washington County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lowell, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$774
Ownwell’s Lowell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lowell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lowell 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 Lowell, Ohio
Property taxes in Lowell, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lowell is 1.09%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Lowell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lowell 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 Lowell's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45744 zip code has both the highest and lowest median property tax rate of 1.09%. Understanding how these cities compare with Lowell provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lowell Tax Rate
1.09%
Average Washington County Tax Rate
1.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lowell, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45744 | 0.80% | 1.04% | 1.09% | 1.20% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Lowell, Ohio
In Lowell, 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 Washington 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 Lowell, 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. For example, the median home price in Lowell is $70,975, with tax bills ranging from $228 at the 25th percentile to $2,228 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lowell Assessed Value
$70,975
Average Washington County Assessed Value
$106,255
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lowell, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45744 | $2,699 | $20,855 | $70,975 | $139,388 | $205,467 |
Source: Ownwell
Property Tax Bills Across Lowell, Ohio
In Lowell, Washington County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by the local tax assessor. For instance, with a median home price of $70,975, tax assessments hinge on various factors such as property size, location, and improvements. Tax rates are applied to the assessed value to determine the tax bill. The national median property tax rate is 0.99%, but local rates can vary. In Lowell, property tax bills can range significantly, with the 25th percentile at $228 and the 75th percentile at $1,399. At the higher end, the 90th percentile tax bill reaches $2,228. These tax bills directly impact homeowners by influencing their overall housing costs. Higher property taxes can make homeownership more expensive, while lower taxes can provide some financial relief. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Lowell Tax Bill
$745
Average Washington County Tax Bill
$1,235
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lowell, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45744 | $36 | $228 | $745 | $1,399 | $2,228 |
Source: Ownwell