Leesburg, Ohio Property Taxes
The median property tax rate in Leesburg, OH is 1.47%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Leesburg, the typical annual property tax bill reaches $2,225, just below the national median of $2,690. Property taxes in Leesburg 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 Leesburg'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 Leesburg 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
Leesburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$2,360
Ownwell’s Leesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leesburg 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 Leesburg, Ohio
Property taxes in Leesburg, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leesburg is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Leesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leesburg 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 Leesburg's effective property tax rate to other areas and the national median. For comparison, the zip code 45135 has the same median property tax rate of 1.47%. Understanding how these areas compare with Leesburg provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leesburg Tax Rate
1.47%
Average Fayette County Tax Rate
1.38%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leesburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45135 | 0.69% | 1.16% | 1.47% | 1.50% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Leesburg, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Leesburg, Ohio. The market value represents 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 Fayette 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 Leesburg, 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 Leesburg is $160,550, and property tax bills can vary significantly. The 25th percentile tax bill is $1,387, while the 75th percentile tax bill is $3,545. The 90th percentile tax bill reaches $4,995. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leesburg Assessed Value
$160,550
Average Fayette County Assessed Value
$107,500
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leesburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45135 | $39,220 | $91,175 | $160,550 | $261,375 | $533,730 |
Source: Ownwell
Property Tax Bills Across Leesburg, Ohio
In Leesburg, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $160,550, the assessed value is determined by local tax authorities. The property tax rate in Fayette County is then applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Leesburg can expect tax bills to vary significantly. The 25th percentile tax bill is around $1,387, while the 75th percentile reaches $3,545, and the 90th percentile can be as high as $4,995. These variations highlight how different factors, such as property improvements or neighborhood changes, impact tax amounts. Compared to the national median property tax rate of 0.99%, the tax burden in Leesburg can be relatively high, affecting homeowners' annual financial planning and overall housing affordability.
Average Leesburg Tax Bill
$2,225
Average Fayette County Tax Bill
$1,527
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Leesburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45135 | $749 | $1,387 | $2,225 | $3,545 | $4,995 |
Source: Ownwell