Loudonville, Ohio Property Taxes
The median property tax rate in Loudonville, OH is 1.62%, 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 Loudonville at $234,965, the typical annual property tax bill reaches $2,376, which is below the national median of $2,690. Property taxes in Loudonville 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 Loudonville'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 Loudonville 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
Loudonville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$3,806
$3,532
Ownwell’s Loudonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Loudonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loudonville 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 Loudonville, Ohio
Property taxes in Loudonville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loudonville is 1.56%, which is significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Loudonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loudonville 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. Understanding how Loudonville's effective property tax rate compares to other regions in Ohio and the national median provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Loudonville Tax Rate
1.62%
Average Knox County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loudonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44842 | 0.79% | 1.23% | 1.62% | 1.65% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Loudonville, Ohio
In Loudonville, 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 Knox 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 Loudonville, 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 Loudonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 44842, with a tax bill of $2,376.
Average Loudonville Assessed Value
$234,965
Average Knox County Assessed Value
$133,520
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Loudonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44842 | $58,347 | $99,338 | $234,965 | $287,302 | $403,412 |
Source: Ownwell
Property Tax Bills Across Loudonville, Ohio
In Loudonville, located in Knox County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Loudonville see a range of property tax bills, with the 25th percentile at $1,589 and the 75th percentile reaching $3,990. The highest median tax bill in the area is $2,376, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence a homeowner's tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For instance, properties with higher market values or fewer exemptions will generally incur higher tax bills. These taxes fund essential community services such as public schools, infrastructure, and emergency services, directly impacting the quality of life in Loudonville. Consequently, understanding how these elements interplay is crucial for homeowners looking to manage their property tax obligations effectively.
Average Loudonville Tax Bill
$2,376
Average Knox County Tax Bill
$2,431
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Loudonville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44842 | $826 | $1,589 | $2,376 | $3,990 | $5,188 |
Source: Ownwell