Sullivan, Lorain County, Ohio Property Taxes
The median property tax rate in Sullivan, Ohio is 1.64%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Sullivan at $225,820, the typical annual property tax bill reaches $3,483, exceeding the national median of $2,690. Property taxes in Sullivan 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 Sullivan'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 Sullivan 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
Sullivan, Lorain County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$3,703
$3,437
Ownwell’s Sullivan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sullivan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sullivan 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 Sullivan, Lorain County, Ohio
Property taxes in Sullivan, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sullivan is 1.64%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Sullivan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sullivan 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 Sullivan's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44880 has the highest median property tax rate of 1.64%, while the same zip code also has the lowest median tax rate of 1.64%. Understanding how these cities compare with Sullivan provides valuable insights into the varying tax landscape across Lorain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sullivan Tax Rate
1.64%
Average Lorain County Tax Rate
1.82%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sullivan, Lorain County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44880 | 1.41% | 1.63% | 1.64% | 1.67% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Sullivan, Lorain County, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sullivan, Ohio. 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 Lorain 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. 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. Sullivan has a median home price of $225,820, with tax bills ranging from $2,329 at the 25th percentile to $5,688 at the 90th percentile. The highest and lowest median tax bills are both $3,483 in zip code 44880. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sullivan, Lorain County, Ohio
Source: Ownwell
$15,750
$159,090
$302,430
Average Sullivan Assessed Value
$225,820
Average Lorain County Assessed Value
$141,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sullivan, Lorain County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44880 | $118,136 | $148,615 | $225,820 | $295,725 | $346,396 |
Source: Ownwell
Property Tax Bills Across Sullivan, Lorain County, Ohio
In Sullivan, property tax bills are calculated based on the assessed value of a home, which is determined by the Lorain County Assessor's office. The assessed value is a percentage of the market value of the property, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Sullivan, the median home price is $225,820. With the national median property tax rate at 0.99%, Sullivan's rates are relatively comparable, although local variations may apply. Several factors influence the tax bill, including property size, location, and improvements made to the home. Tax bills in Sullivan can vary significantly, ranging from $2,329 at the 25th percentile to $4,854 at the 75th percentile, with the highest bills reaching up to $5,688. These taxes fund essential public services such as schools, roads, and emergency services, directly affecting the quality of life for homeowners. Understanding these factors can help residents anticipate their financial obligations and plan accordingly.
Average Sullivan Tax Bill
$3,483
Average Lorain County Tax Bill
$2,507
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Sullivan, Lorain County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44880 | $1,722 | $2,329 | $3,483 | $4,854 | $5,688 |
Source: Ownwell