Concord Township, Lake County, Ohio Property Taxes
The median property tax rate in Concord Township, OH is 1.02%, slightly higher than the national median of 0.99% yet considerably lower than the Ohio state median of 1.80%. With the median home value in Concord Township at $254,705, the typical annual property tax bill reaches $2,544, which is just below the national median of $2,690. Property taxes in Concord Township 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 Concord Township'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 Concord Township 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
Concord Township, Lake County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$2,598
$2,411
Ownwell’s Concord Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Concord Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Concord Township 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 Concord Township, Lake County, Ohio
Property taxes in Concord Township, Ohio, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Concord Township is 1.02%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Concord Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Concord Township 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 Concord Township's effective property tax rate to other areas in Lake County and the national median. For comparison, the 44077 zip code has the highest median property tax rate of 1.03%, while the 44060 zip code has the lowest median tax rate of 1.00%. Understanding how these areas compare with Concord Township provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Concord Township Tax Rate
1.02%
Average Lake County Tax Rate
2.03%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Concord Township, Lake County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44024 | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| 44060 | 0.23% | 0.77% | 1.00% | 1.11% | 2.62% |
| 44077 | 0.11% | 0.95% | 1.03% | 2.05% | 3.35% |
Source: Ownwell
Property Tax Assessment Values Across Concord Township, Lake County, Ohio
In Concord Township, 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 Lake County Auditor 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 Concord Township, 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 Concord Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,257 in zip code 44024, while the lowest is $1,844 in zip code 44060.
Property Tax Assessment Values Across Concord Township, Lake County, Ohio
Source: Ownwell
$111,175
$393,275
$675,375
Average Concord Township Assessed Value
$254,705
Average Lake County Assessed Value
$154,020
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Concord Township, Lake County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44024 | $140,103 | $163,760 | $260,595 | $368,745 | $444,602 |
| 44060 | $108,910 | $137,452 | $217,950 | $291,388 | $367,485 |
| 44077 | $133,030 | $189,235 | $269,405 | $376,120 | $467,917 |
Source: Ownwell
Property Tax Bills Across Concord Township, Lake County, Ohio
In Concord Township, Lake County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value, impacting the overall tax bill. For instance, the median home price in Concord Township is $254,705. Homeowners in the 25th percentile can expect a tax bill around $1,171, while those in the 75th percentile might see bills closer to $4,469. At the higher end, the 90th percentile tax bill reaches approximately $7,335. These figures highlight the variability in property taxes, reflecting differences in property values and assessments. Comparatively, the national median property tax rate is 0.99%, making the tax burdens in Concord Township relatively diverse. Homeowners need to consider these factors when budgeting for property-related expenses, as tax bills can significantly impact overall financial planning.
Average Concord Township Tax Bill
$2,544
Average Lake County Tax Bill
$1,087
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Concord Township, Lake County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44024 | $3,257 | $3,257 | $3,257 | $3,257 | $3,257 |
| 44060 | $455 | $858 | $1,844 | $2,847 | $5,092 |
| 44077 | $314 | $1,392 | $2,769 | $4,762 | $7,510 |
Source: Ownwell