Las Vegas, Ohio Property Taxes
The median property tax rate in Las Vegas, OH is 1.39%, notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $132,970 in Las Vegas, the typical annual property tax bill amounts to $1,849, which is below the national median of $2,690. Property taxes in Las Vegas are determined based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Las Vegas's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can result in significant annual savings. Whether you're residing in the heart of Las Vegas or another part of Butler County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Las Vegas, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,848
$1,715
Ownwell’s Las Vegas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Las Vegas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Las Vegas 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 Las Vegas, Ohio
Property taxes in Las Vegas, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Las Vegas is 1.39%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Las Vegas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Las Vegas 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 Las Vegas's effective property tax rate to other counties in Ohio and the national median. For comparison, the 89121 zip code has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these areas compare with Las Vegas provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Las Vegas Tax Rate
1.39%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Las Vegas, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89121 | 1.39% | 1.39% | 1.39% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Las Vegas, Ohio
In Las Vegas, 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 Butler 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 Las Vegas, 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 Las Vegas is $132,970, with the highest median tax bill being $1,849 in the 89121 zip code. 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 Las Vegas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Las Vegas Assessed Value
$132,970
Average Butler County Assessed Value
$217,015
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Las Vegas, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89121 | $132,970 | $132,970 | $132,970 | $132,970 | $132,970 |
Source: Ownwell
Property Tax Bills Across Las Vegas, Ohio
In Las Vegas, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value. The tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and any improvements made. In Butler County, homeowners can expect a median property tax bill of $1,849, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing their annual expenses, which might be a consideration for those budgeting for home ownership or retirement. Understanding how property taxes are calculated and the factors involved can help homeowners anticipate their financial obligations and plan accordingly. Whether you live in the highest or lowest median tax bill areas, both of which are $1,849 in zip code 89121, the property tax remains a consistent expense.
Average Las Vegas Tax Bill
$1,849
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Las Vegas, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 89121 | $1,849 | $1,849 | $1,849 | $1,849 | $1,849 |
Source: Ownwell