Spencer, Lorain County, Ohio Property Taxes

Name: Property Tax Bills Across Spencer, Lorain County, Ohio
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Spencer, OH effective property tax rate: 1.64%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Spencer, OH home value: $243,950
Median annual Spencer, OH tax bill: $3,973, $1,573 higher than the national median property tax bill of $2,400.

How are property taxes in Lorain calculated?

Property taxes in Spencer, OH are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Spencer’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Spencer, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Spencer, Lorain County, Ohio Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.64%

Estimate Property Tax Bill

$4,001

$3,713

Ownwell’s Spencer Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Spencer with just two data points. By entering your property's estimated assessed value, our calculator applies Spencer’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lorain County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Spencer, Lorain County, Ohio

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Spencer’s effective property tax rate to other cities in Ohio and the median property tax rates in Ohio and the U.S. Spencer, located in Medina County, has a property tax rate that reflects the local budgetary needs and property values. Ohio's median property tax rate stands at 1.64%, which is significantly higher than the national median of 1.02%. This means homeowners in Spencer might experience higher tax bills compared to many other regions across the country. However, understanding the specifics of how these rates are determined can empower property owners to make informed decisions when it comes to property tax appeals and exemptions.

Property Tax Rates Across Spencer, Lorain County, Ohio

Source: Ownwell

1.41%

1.73%

2.05%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Spencer Tax Rate

1.64%

Median Effective Lorain County Tax Rate

1.82%

Median Effective Ohio Tax Rate

1.80%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Spencer, Lorain County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
44275	1.49%	1.63%	1.64%	1.76%	1.80%

Source: Ownwell

Property Tax Assessment Values Across Spencer, Lorain County, Ohio

When examining property taxes in Spencer, Ohio, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lorain County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Lorain County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Spencer.

For example, the median home price in Spencer is $243,950, with tax bills ranging significantly across the county. Zip code 44275 has the highest median home price at $243,950.

Property Tax Assessment Values Across Spencer, Lorain County, Ohio

Source: Ownwell

$15,750

$159,090

$302,430

Median Spencer Market Value

$243,950

Median Lorain County Market Value

$141,300

Median Ohio Market Value

$133,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Spencer, Lorain County, Ohio

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
44275	$83,530	$171,560	$243,950	$280,532	$321,705

Source: Ownwell

Property Tax Bills Across Spencer, Lorain County, Ohio

In Spencer, located in Lorain County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Spencer is $243,950, with property tax bills ranging from the 25th percentile at $2,939 to the 90th percentile at $5,250. The property tax rate in Spencer significantly affects homeowners, as it is above the national median property tax rate of 1.02%. This can lead to higher financial burdens for homeowners compared to the national median property tax bill of $2,400.

Ownwell assists homeowners in Spencer by providing expert property tax appeal and exemption services. By analyzing market trends and comparable property values, Ownwell can identify opportunities for reducing the assessed value of a home, potentially leading to lower tax bills. This service can offer significant savings and relief to homeowners facing high property tax rates, ensuring they only pay their fair share.

Property Tax Bills Across Spencer, Lorain County, Ohio

Source: Ownwell

$286

$3,021

$5,756

Median Spencer Tax Bill

$3,973

Median Lorain County Tax Bill

$2,507

Median Ohio Tax Bill

$2,396

Median United States Tax Bill

$2,400

Property Tax Bills Across Spencer, Lorain County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
44275	$1,691	$2,939	$3,973	$4,579	$5,250

Source: Ownwell