North Lewisburg, Ohio Property Taxes
The median property tax rate in North Lewisburg, OH is 1.30%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $136,660 in North Lewisburg, the typical annual property tax bill comes to $1,792, still below the national median of $2,690. Property taxes in North Lewisburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding North Lewisburg'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 North Lewisburg 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
North Lewisburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,777
$1,649
Ownwell’s North Lewisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Lewisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Lewisburg 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 North Lewisburg, Ohio
Property taxes in North Lewisburg, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Lewisburg is 1.30%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within North Lewisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Lewisburg 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 North Lewisburg's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43060 zip code has the highest median property tax rate of 1.30%, while the 43060 zip code also has the lowest median tax rate of 1.30%. Understanding how these areas compare with North Lewisburg provides valuable insights into the varying tax landscape across Champaign County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Lewisburg Tax Rate
1.30%
Average Champaign County Tax Rate
1.33%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Lewisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43060 | 0.97% | 1.27% | 1.30% | 1.33% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across North Lewisburg, Ohio
In North Lewisburg, 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 Champaign 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 North Lewisburg, 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 North Lewisburg is $136,660, with tax bills ranging from $1,290 at the 25th percentile to $2,427 at the 75th percentile, and up to $3,380 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 North Lewisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average North Lewisburg Assessed Value
$136,660
Average Champaign County Assessed Value
$139,430
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Lewisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43060 | $4,780 | $89,285 | $136,660 | $185,638 | $256,461 |
Source: Ownwell
Property Tax Bills Across North Lewisburg, Ohio
In North Lewisburg, located in Champaign County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. The tax rate, or millage rate, is then applied to this assessed value to determine the annual property tax bill. For homeowners in North Lewisburg, the median home price stands at $136,660. Property tax bills in the area vary significantly, with the 25th percentile tax bill at around $1,290 and the 75th percentile reaching $2,427. At the 90th percentile, homeowners might see tax bills as high as $3,380. Compared to the national median property tax rate of 0.99%, North Lewisburg's property tax rates can impact homeowners differently based on their property's assessed value. These taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly affecting the community's quality of life.
Average North Lewisburg Tax Bill
$1,792
Average Champaign County Tax Bill
$1,926
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across North Lewisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43060 | $654 | $1,290 | $1,792 | $2,427 | $3,380 |
Source: Ownwell