Ironton, Ohio Property Taxes
The median property tax rate in Ironton, OH is 1.10%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $74,410 in Ironton, the typical annual property tax bill is around $819, which is significantly below the national median of $2,690. Property taxes in Ironton are calculated based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Ironton’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ironton 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
Ironton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$819
$760
Ownwell’s Ironton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ironton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ironton 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 Ironton, Ohio
Property taxes in Ironton, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ironton is 1.10%, which is notably higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Ironton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ironton 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 Ironton's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45638 has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these figures compare with Ironton provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ironton Tax Rate
1.10%
Average Lawrence County Tax Rate
1.02%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ironton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45638 | 0.81% | 0.98% | 1.10% | 1.28% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Ironton, Ohio
In Ironton, 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 Lawrence 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 Ironton, 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 Ironton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Ironton, the highest and lowest median tax bills are both $819, with the zip code 45638.
Average Ironton Assessed Value
$74,410
Average Lawrence County Assessed Value
$85,530
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ironton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45638 | $15,398 | $49,840 | $74,410 | $106,080 | $154,476 |
Source: Ownwell
Property Tax Bills Across Ironton, Ohio
In Ironton, located in Lawrence County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The tax rate in Ironton is influenced by various factors, including funding requirements for public services such as schools, infrastructure, and emergency services. For homeowners in Ironton, the property tax bill can vary significantly. The median home price is $74,410, and the property tax bills range from $502 at the 25th percentile to $1,722 at the 90th percentile. The median property tax bill in the highest and lowest zip codes is $819, which is below the national median property tax rate of 0.99%. These taxes can impact homeowners by influencing overall housing affordability and the cost of maintaining their property. Understanding these factors is crucial for homeowners when budgeting for annual expenses.
Average Ironton Tax Bill
$819
Average Lawrence County Tax Bill
$879
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Ironton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45638 | $155 | $502 | $819 | $1,198 | $1,722 |
Source: Ownwell