Pedro, Lawrence County, Ohio Property Taxes
The median property tax rate in Pedro, OH is 1.00%, just slightly above the national median of 0.99% but significantly lower than Ohio's state median of 1.80%. With a median home value of $50,440 in Pedro, the typical annual property tax bill is $439, well below the national median of $2,690. Property taxes in Pedro are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Navigating Pedro's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Pedro or another part of Lawrence County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Pedro, Lawrence County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$504
$468
Ownwell’s Pedro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pedro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pedro 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 Pedro, Lawrence County, Ohio
Property taxes in Pedro, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pedro is 1.00%, higher than the U.S. national median of 0.99%. Local government entities within Pedro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pedro 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 Pedro's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45659 zip code has both the highest and lowest median property tax rate of 1.00%. Understanding how these areas compare with Pedro 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 Pedro Tax Rate
1.00%
Average Lawrence County Tax Rate
1.02%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pedro, Lawrence County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45659 | 0.67% | 0.97% | 1.00% | 1.06% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Pedro, Lawrence County, Ohio
In Pedro, 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 Pedro, 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 Pedro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pedro is $50,440, with the 25th percentile tax bill at $173 and the 75th percentile tax bill at $865. The highest and lowest median tax bill is $439 in zip code 45659.
Property Tax Assessment Values Across Pedro, Lawrence County, Ohio
Source: Ownwell
$28,380
$71,610
$114,840
Average Pedro Assessed Value
$50,440
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 Pedro, Lawrence County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45659 | $10,215 | $17,142 | $50,440 | $91,922 | $148,810 |
Source: Ownwell
Property Tax Bills Across Pedro, Lawrence County, Ohio
In Pedro, located in Lawrence County, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value of the home. For example, with a median home price of $50,440, homeowners can expect their property tax bills to vary significantly. Factors such as property size, location, and improvements can influence the assessed value. Tax rates are applied to this assessed value to calculate the tax bill. In Pedro, the 25th percentile tax bill is $173, while the 75th percentile tax bill is $865, and the 90th percentile tax bill can reach up to $1,410. Comparatively, the national median property tax rate is 0.99%, highlighting how Pedro's property tax bills can vary widely within the city. These tax bills directly impact homeowners by influencing their annual expenses and potentially affecting property values. Understanding these factors helps homeowners plan and budget more effectively.
Average Pedro Tax Bill
$439
Average Lawrence County Tax Bill
$879
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Pedro, Lawrence County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45659 | $87 | $173 | $439 | $865 | $1,410 |
Source: Ownwell