Buckeye Lake, Ohio Property Taxes
The median property tax rate in Buckeye Lake, OH is 1.65%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Buckeye Lake at $176,195, the typical annual property tax bill reaches $2,552, which is below the national median of $2,690. Property taxes in Buckeye Lake 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 Buckeye Lake'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 Buckeye Lake 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
Buckeye Lake, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$2,907
Ownwell’s Buckeye Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buckeye Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buckeye Lake 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 Buckeye Lake, Ohio
Property taxes in Buckeye Lake, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buckeye Lake is 1.65%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Buckeye Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buckeye Lake 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 Buckeye Lake's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43008 has the highest median property tax rate of 1.65%, while the same zip code also has the lowest median tax rate of 1.65%. Understanding how these cities compare with Buckeye Lake provides valuable insights into the varying tax landscape across Fairfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buckeye Lake Tax Rate
1.65%
Average Fairfield County Tax Rate
1.37%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buckeye Lake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43008 | 1.47% | 1.54% | 1.65% | 1.76% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Buckeye Lake, Ohio
In Buckeye Lake, 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 Fairfield 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 Buckeye Lake, 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. Being aware of these valuation processes in Buckeye Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 43008 has the highest and lowest median tax bill, both at $2,552.
Average Buckeye Lake Assessed Value
$176,195
Average Fairfield County Assessed Value
$224,580
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buckeye Lake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43008 | $52,295 | $98,758 | $176,195 | $253,632 | $300,095 |
Source: Ownwell
Property Tax Bills Across Buckeye Lake, Ohio
In Buckeye Lake, located in Fairfield County, OH, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The tax rate is applied to this assessed value to calculate the annual property tax bill. Several factors influence this calculation, including the market value of the property, local tax rates, and any applicable exemptions or deductions. For homeowners in Buckeye Lake, the median home price is $176,195. Property tax bills can vary significantly, with the 25th percentile at $1,476 and the 75th percentile at $3,628. At the 90th percentile, homeowners could see tax bills as high as $4,273. These variations highlight the impact of differing property values and tax rates within the area. The highest and lowest median tax bill in the region both stand at $2,552, indicating a consistent tax landscape within the specified zip code 43008. Understanding these factors can help homeowners better anticipate their property tax obligations and plan accordingly.
Average Buckeye Lake Tax Bill
$2,552
Average Fairfield County Tax Bill
$2,962
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Buckeye Lake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43008 | $831 | $1,476 | $2,552 | $3,628 | $4,273 |
Source: Ownwell