Lakeview, Ohio Property Taxes
The median property tax rate in Lakeview, OH is 1.91%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Lakeview at $124,890, the typical annual property tax bill reaches $2,278, slightly below the national median of $2,690. Property taxes in Lakeview 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 Lakeview'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 Lakeview 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
Lakeview, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$2,385
$2,214
Ownwell’s Lakeview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakeview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeview 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 Lakeview, Ohio
Property taxes in Lakeview, Ohio, play a crucial role in financing essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Lakeview is 1.91%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Lakeview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeview 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 Lakeview's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43331 has the highest median property tax rate of 1.91%, while the lowest median tax rate is also 1.91% within the same zip code. Understanding how these areas compare with Lakeview provides valuable insights into the varying tax landscape across Auglaize County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeview Tax Rate
1.91%
Average Auglaize County Tax Rate
1.86%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeview, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43331 | 1.70% | 1.82% | 1.91% | 2.00% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Lakeview, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lakeview, Ohio. 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 Auglaize 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 Lakeview, 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, the median home price in Lakeview is $124,890, with tax bills ranging from $1,489 at the 25th percentile to $4,122 at the 90th percentile. 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 Lakeview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakeview Assessed Value
$124,890
Average Auglaize County Assessed Value
$135,635
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeview, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43331 | $25,220 | $76,430 | $124,890 | $160,230 | $235,576 |
Source: Ownwell
Property Tax Bills Across Lakeview, Ohio
In Lakeview, located in Auglaize County, OH, property tax bills are determined based on the assessed value of the property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, resulting in varying tax amounts for homeowners. For example, in Lakeview, the median home price is $124,890. Homeowners in the 25th percentile can expect a tax bill around $1,489, while those in the 75th percentile may see bills up to $2,991. At the 90th percentile, tax bills can reach approximately $4,122. These figures highlight the range of property taxes within the community, which can significantly impact homeowners' annual budgets. Comparatively, the national median property tax rate stands at 0.99%, making it essential for Lakeview residents to understand their local tax rates and how they compare on a broader scale. This knowledge helps homeowners better anticipate and manage their property tax obligations.
Average Lakeview Tax Bill
$2,278
Average Auglaize County Tax Bill
$2,263
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeview, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43331 | $568 | $1,489 | $2,278 | $2,991 | $4,122 |
Source: Ownwell