Lebanon, Ohio Property Taxes
The median property tax rate in Lebanon, Ohio, is 5.20%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Lebanon, the typical annual property tax bill reaches $2,506, slightly below the national median of $2,690. Property taxes in Lebanon 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 Lebanon'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 Lebanon 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
Lebanon, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.2%
Estimate Property Tax Bill
$2,505
Ownwell’s Lebanon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lebanon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lebanon 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 Lebanon, Ohio
Property taxes in Lebanon, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Lebanon is 1.23%, which is higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Lebanon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lebanon 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 Lebanon's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45036 zip code has the highest median property tax rate of 1.23%, while the same zip code also has the lowest median tax rate of 1.23%. Understanding how these areas compare with Lebanon 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 Lebanon Tax Rate
5.20%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lebanon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45036 | 5.20% | 5.20% | 5.20% | 5.20% | 5.20% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Ohio
In Lebanon, 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 Lebanon, 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. The median home price in Lebanon is $48,180, with a median property tax bill of $2,506. 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 Lebanon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lebanon Assessed Value
$48,180
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 Lebanon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45036 | $48,180 | $48,180 | $48,180 | $48,180 | $48,180 |
Source: Ownwell
Property Tax Bills Across Lebanon, Ohio
In Lebanon, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the Butler County Auditor. The assessed value 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. This rate can vary depending on the specific levies and millage rates approved by voters in the area. Several factors influence the tax bill, including the property's location, size, and any improvements made. In Lebanon, the median home price is $48,180, and the median property tax bill is $2,506. This equates to an effective property tax rate significantly higher than the national median of 0.99%. Homeowners in Lebanon should be aware that their property taxes contribute to essential public services such as schools, infrastructure, and emergency services, making it a crucial aspect of homeownership in the area.
Average Lebanon Tax Bill
$2,506
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lebanon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45036 | $2,506 | $2,506 | $2,506 | $2,506 | $2,506 |
Source: Ownwell