Loudonville, Ohio Property Taxes
The median property tax rate in Loudonville, OH is 1.55%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $94,220 in Loudonville, the typical annual property tax bill amounts to $1,374, falling below the national median of $2,690. Property taxes in Loudonville are based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Loudonville'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 Loudonville 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
Loudonville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$1,460
Ownwell’s Loudonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Loudonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loudonville 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 Loudonville, Ohio
Property taxes in Loudonville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loudonville is 1.55%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Loudonville set these rates annually, and they can vary across different neighborhoods. Each year, Loudonville 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 Loudonville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44842 zip code has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these areas compare with Loudonville provides valuable insights into the varying tax landscape across Ashland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Loudonville Tax Rate
1.55%
Average Ashland County Tax Rate
1.52%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loudonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44842 | 1.13% | 1.45% | 1.55% | 1.56% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Loudonville, Ohio
In Loudonville, 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 local 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 Loudonville, 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 Loudonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Loudonville is $94,220. The median tax bill in the zip code with the highest and lowest tax bills is $1,374 in 44842.
Average Loudonville Assessed Value
$94,220
Average Ashland County Assessed Value
$108,690
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Loudonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44842 | $16,980 | $63,282 | $94,220 | $138,450 | $192,044 |
Source: Ownwell
Property Tax Bills Across Loudonville, Ohio
In Loudonville, located in Ashland County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value. For example, with a median home price of $94,220, homeowners can expect varying tax bills depending on where their property falls within the assessment range. At the 25th percentile, tax bills are around $896, while at the 75th percentile, they rise to approximately $2,013. For those at the 90th percentile, tax bills can reach up to $2,795. The highest and lowest median tax bills in Loudonville are both $1,374, reflecting a consistent rate within the area. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Loudonville's property taxes can significantly impact homeowners, especially those with higher-valued properties. This system ensures that property tax contributions are proportionate to property values, maintaining fairness in the community.
Average Loudonville Tax Bill
$1,374
Average Ashland County Tax Bill
$1,522
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Loudonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44842 | $237 | $896 | $1,374 | $2,013 | $2,795 |
Source: Ownwell