West Lafayette, Ohio Property Taxes
The median property tax rate in West Lafayette, OH is 1.35%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $86,555, the typical annual property tax bill in West Lafayette amounts to $1,114, which is below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding West Lafayette'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 West Lafayette or elsewhere in Coshocton County, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
West Lafayette, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,168
$1,084
Ownwell’s West Lafayette Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Lafayette with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Lafayette 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 West Lafayette, Ohio
Property taxes in West Lafayette, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Lafayette is 1.35%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within West Lafayette set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Lafayette 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 West Lafayette's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43845 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with West Lafayette provides valuable insights into the varying tax landscape across Coshocton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Lafayette Tax Rate
1.35%
Average Coshocton County Tax Rate
1.34%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Lafayette, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43845 | 0.90% | 1.21% | 1.35% | 1.48% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across West Lafayette, Ohio
In West Lafayette, 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 Coshocton 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 West Lafayette, 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. For instance, the highest median tax bill in the area is $1,114 in the 43845 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average West Lafayette Assessed Value
$86,555
Average Coshocton County Assessed Value
$88,930
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Lafayette, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43845 | $20,131 | $58,622 | $86,555 | $123,935 | $172,553 |
Source: Ownwell
Property Tax Bills Across West Lafayette, Ohio
In West Lafayette, property tax bills are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is a percentage of the market value of the home, and this figure is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $86,555, homeowners in West Lafayette can expect their property tax bills to vary significantly. At the 25th percentile, tax bills are around $688, while at the 75th percentile, they rise to about $1,557. For those at the 90th percentile, the tax bill can reach up to $2,170. These amounts are influenced by various factors, including property improvements, location, and local government budgets. Homeowners in Coshocton County, where West Lafayette is located, experience a median tax bill of $1,114, which aligns with the highest and lowest median tax bills within the same zip code. Understanding these factors helps homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average West Lafayette Tax Bill
$1,114
Average Coshocton County Tax Bill
$1,140
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across West Lafayette, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43845 | $261 | $688 | $1,114 | $1,557 | $2,170 |
Source: Ownwell