Laura, Ohio Property Taxes
The median property tax rate in LAURA, OH is 1.33%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in LAURA at $160,270, the typical annual property tax bill reaches $1,865, which exceeds the national median of $2,690. Property taxes in LAURA 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 LAURA'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 LAURA 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
Laura, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$2,132
$1,978
Ownwell’s Laura Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Laura with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laura 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 Laura, Ohio
Property taxes in Laura, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laura is 1.33%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Laura set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laura 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 Laura's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45337 zip code has both the highest and lowest median property tax rate of 1.33%. Understanding how these cities compare with Laura provides valuable insights into the varying tax landscape across Darke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laura Tax Rate
1.33%
Average Darke County Tax Rate
1.34%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laura, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45337 | 0.91% | 1.10% | 1.33% | 1.34% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Laura, Ohio
In Laura, 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 Darke 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 Laura, 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. The highest median tax bill in Laura is $1,865 in the 45337 zip code, while the lowest median tax bill is also $1,865 in the same 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 Laura Assessed Value
$160,270
Average Darke County Assessed Value
$110,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laura, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45337 | $84,283 | $107,275 | $160,270 | $217,392 | $261,648 |
Source: Ownwell
Property Tax Bills Across Laura, Ohio
In Laura, located in Darke County, OH, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by the local assessor, who evaluates the market value of the property. This value is then multiplied by the county's property tax rate to determine the annual tax bill. For example, with a median home price of $160,270, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,407 annually, while those in the 75th percentile might see bills closer to $2,497. At the 90th percentile, tax bills can reach up to $3,396. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in Laura. Compared to the national median property tax rate of 0.99%, Laura’s tax rates can be a crucial factor for homeowners when budgeting and planning their finances.
Average Laura Tax Bill
$1,865
Average Darke County Tax Bill
$1,406
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Laura, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45337 | $984 | $1,407 | $1,865 | $2,497 | $3,396 |
Source: Ownwell