Proctorville, Ohio Property Taxes
The median property tax rate in Proctorville, OH is 0.96%, slightly below the national median of 0.99% and significantly lower than the Ohio state median of 1.80%. With a median home value of $114,840 in Proctorville, the typical annual property tax bill is around $1,092, which is also below the national median of $2,690. Property taxes in Proctorville are determined based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Proctorville's property tax system and exploring available exemptions, homeowners and real estate investors can uncover opportunities for substantial annual savings. Whether you reside in Proctorville or another part of Lawrence County, a thorough grasp of the local property tax landscape is essential for maximizing financial benefits.
Last Updated June 14, 2024
Proctorville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,102
$1,023
Ownwell’s Proctorville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Proctorville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Proctorville 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 Proctorville, Ohio
Property taxes in Proctorville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Proctorville is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Proctorville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Proctorville 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 Proctorville's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45669 zip code has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these rates compare with Proctorville 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 Proctorville Tax Rate
0.96%
Average Lawrence County Tax Rate
1.02%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Proctorville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45669 | 0.77% | 0.94% | 0.96% | 1.00% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Proctorville, Ohio
In Proctorville, 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 Proctorville, 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 Proctorville 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 45669, with a median bill of $1,092.
Average Proctorville Assessed Value
$114,840
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 Proctorville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45669 | $17,550 | $62,340 | $114,840 | $182,615 | $269,490 |
Source: Ownwell
Property Tax Bills Across Proctorville, Ohio
In Proctorville, located in Lawrence County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is typically a percentage of the property's market value. The tax rate, or millage rate, is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the final tax amount, including the property's location, size, and any applicable exemptions or deductions. For example, the median home price in Proctorville is $114,840. Homeowners in the 25th percentile of tax bills pay around $593 annually, while those in the 75th percentile face tax bills of approximately $1,725. At the higher end, the 90th percentile sees tax bills reaching up to $2,560. These property taxes contribute significantly to local services like schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Compared to the national median property tax rate of 0.99%, Proctorville's rates reflect the community's specific needs and valuations.
Average Proctorville Tax Bill
$1,092
Average Lawrence County Tax Bill
$879
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Proctorville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45669 | $175 | $593 | $1,092 | $1,725 | $2,560 |
Source: Ownwell