Lowellville, Ohio Property Taxes
The median property tax rate in Lowellville, OH is 1.66%, significantly higher than the national median of 0.99% but below the Ohio state median of 1.80%. With a median home value of $82,850 in Lowellville, the typical annual property tax bill is around $1,520, which is less than the national median of $2,690. Property taxes in Lowellville are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Lowellville'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 Lowellville or another part of Mahoning County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lowellville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$1,375
$1,276
Ownwell’s Lowellville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lowellville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lowellville 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 Lowellville, Ohio
Property taxes in Lowellville, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lowellville is 1.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lowellville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lowellville 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 Lowellville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44436 zip code has both the highest and lowest median property tax rate of 1.66%. Understanding how these cities compare with Lowellville provides valuable insights into the varying tax landscape across Mahoning County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lowellville Tax Rate
1.66%
Average Mahoning County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lowellville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44436 | 1.39% | 1.42% | 1.66% | 2.06% | 2.74% |
Source: Ownwell
Property Tax Assessment Values Across Lowellville, Ohio
In Lowellville, 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 Mahoning 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 Lowellville, 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. For instance, in Lowellville's 44436 zip code, the median tax bill is $1,520. 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 Lowellville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lowellville Assessed Value
$82,850
Average Mahoning County Assessed Value
$80,890
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lowellville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44436 | $31,941 | $54,540 | $82,850 | $130,468 | $200,395 |
Source: Ownwell
Property Tax Bills Across Lowellville, Ohio
In Lowellville, Mahoning County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Lowellville is $82,850. Tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property location, home improvements, and local tax levies influence the final amount. For example, the 25th percentile tax bill is $835, reflecting lower-value properties or those with fewer improvements. On the higher end, the 75th percentile tax bill is $2,588, and the 90th percentile reaches $3,763, indicating more valuable properties or those with significant enhancements. Understanding these factors helps homeowners anticipate their tax liabilities and manage their finances effectively. Compared to the national median property tax rate of 0.99%, Lowellville's tax rates can vary significantly, making it important for homeowners to stay informed about local tax policies and potential exemptions they may qualify for.
Average Lowellville Tax Bill
$1,520
Average Mahoning County Tax Bill
$1,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lowellville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44436 | $470 | $835 | $1,520 | $2,588 | $3,763 |
Source: Ownwell