Lore City, Guernsey County, Ohio Property Taxes
The median property tax rate in Lore City, Ohio is 1.41%, considerably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Lore City at $64,930, the typical annual property tax bill reaches $956, which is below the national median of $2,690. Property taxes in Lore City 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 Lore City'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 Lore City or another part of Guernsey County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lore City, Guernsey County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$916
$850
Ownwell’s Lore City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lore City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lore City 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 Lore City, Guernsey County, Ohio
Property taxes in Lore City, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lore City is 1.41%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Lore City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lore City 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 Lore City's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43755 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Lore City provides valuable insights into the varying tax landscape across Guernsey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lore City Tax Rate
1.41%
Average Guernsey County Tax Rate
1.49%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lore City, Guernsey County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43755 | 1.09% | 1.37% | 1.41% | 1.58% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Lore City, Guernsey County, Ohio
In Lore City, 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 Guernsey 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. 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 Lore City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $956 in the 43755 zip code, reflecting the local property tax landscape.
Property Tax Assessment Values Across Lore City, Guernsey County, Ohio
Source: Ownwell
$13,830
$77,013
$140,195
Average Lore City Assessed Value
$64,930
Average Guernsey County Assessed Value
$64,830
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lore City, Guernsey County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43755 | $6,546 | $28,192 | $64,930 | $124,832 | $186,168 |
Source: Ownwell
Property Tax Bills Across Lore City, Guernsey County, Ohio
Property tax bills in Lore City, located in Guernsey County, OH, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Lore City has a median home price of $64,930. Local tax authorities then apply the tax rate to this assessed value to determine the annual tax bill. Factors that influence the tax bill include property location, property type, and any applicable exemptions or deductions. For example, properties in the zip code 43755 have a median tax bill of $956. Homeowners in Lore City can expect their tax bills to range significantly, with the 25th percentile at $400 and the 75th percentile at $1,687. At the higher end, the 90th percentile tax bill reaches $2,581. High property taxes can impact homeowners by increasing the overall cost of owning a home, while lower taxes may make homeownership more affordable. Understanding these factors helps homeowners budget effectively and anticipate their annual financial obligations.
Average Lore City Tax Bill
$956
Average Guernsey County Tax Bill
$953
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lore City, Guernsey County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43755 | $98 | $400 | $956 | $1,687 | $2,581 |
Source: Ownwell