Lynchburg, Brown County, Ohio Property Taxes
The median property tax rate in Lynchburg, OH is 1.25%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Lynchburg at $123,235, the typical annual property tax bill amounts to $1,619, which is below the national median of $2,690. Property taxes in Lynchburg are calculated based on the tax assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Lynchburg'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 Lynchburg or another part of Brown County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lynchburg, Brown County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,540
$1,429
Ownwell’s Lynchburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lynchburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lynchburg 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 Lynchburg, Brown County, Ohio
Property taxes in Lynchburg, Ohio, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lynchburg is 1.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lynchburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lynchburg 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 Lynchburg's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45142 has both the highest and lowest median property tax rate of 1.25%. Understanding how these cities compare with Lynchburg provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lynchburg Tax Rate
1.25%
Average Brown County Tax Rate
1.17%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lynchburg, Brown County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45142 | 0.95% | 1.07% | 1.25% | 1.51% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Lynchburg, Brown County, Ohio
In Lynchburg, 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 Brown 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 Lynchburg, 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 Lynchburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 45142, both at $1,619.
Property Tax Assessment Values Across Lynchburg, Brown County, Ohio
Source: Ownwell
$28,870
$118,518
$208,165
Average Lynchburg Assessed Value
$123,235
Average Brown County Assessed Value
$109,630
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lynchburg, Brown County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45142 | $45,725 | $81,515 | $123,235 | $175,482 | $239,745 |
Source: Ownwell
Property Tax Bills Across Lynchburg, Brown County, Ohio
In Lynchburg, located in Brown County, Ohio, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and is typically a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, the local tax rate, and any applicable exemptions. For instance, homeowners in Lynchburg might find their tax bills varying significantly within the region. The tax bill at the 25th percentile is $1,184, while at the 75th percentile, it rises to $2,252, demonstrating a range of property values and tax rates within the area. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated can help homeowners anticipate their annual expenses and plan their budgets accordingly.
Average Lynchburg Tax Bill
$1,619
Average Brown County Tax Bill
$1,244
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lynchburg, Brown County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45142 | $608 | $1,184 | $1,619 | $2,252 | $2,773 |
Source: Ownwell