Laura, Ohio Property Taxes
The median property tax rate in Laura, OH is 1.22%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $130,800, the typical annual property tax bill in Laura amounts to $1,578, falling below the national median of $2,690. Property taxes in Laura are based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Laura'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 Laura or elsewhere in Miami County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Laura, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,596
$1,481
Ownwell’s LAURA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LAURA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LAURA 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 Laura, Ohio
Property taxes in Laura, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laura is 1.22%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Laura set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laura 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 Laura's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45337 zip code has the highest median property tax rate of 1.22%, while the 45337 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Laura provides valuable insights into the varying tax landscape across Miami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laura Tax Rate
1.22%
Average Miami County Tax Rate
1.33%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laura, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45337 | 0.96% | 1.19% | 1.22% | 1.25% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Laura, Ohio
In LAURA, 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 Miami 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 LAURA, 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, the median home price in LAURA is $130,800. The tax bill varies significantly, with the 25th percentile at $1,058 and the 75th percentile reaching $2,547. 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 LAURA helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Laura Assessed Value
$130,800
Average Miami County Assessed Value
$159,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laura, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45337 | $36,720 | $83,500 | $130,800 | $218,250 | $303,400 |
Source: Ownwell
Property Tax Bills Across Laura, Ohio
In the city of Laura, located in Miami County, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Laura is $130,800, with tax bills varying significantly across different percentiles. Homeowners at the 25th percentile pay approximately $1,058, while those at the 75th percentile see bills around $2,547. At the 90th percentile, the tax bill can reach up to $3,640. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, the tax rates in Laura can result in varying financial impacts on homeowners. Understanding these factors can help residents anticipate their property tax liabilities and plan accordingly. The highest and lowest median tax bills in Laura both stand at $1,578, highlighting a degree of uniformity in tax assessments within the area.
Average Laura Tax Bill
$1,578
Average Miami County Tax Bill
$2,118
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Laura, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45337 | $601 | $1,058 | $1,578 | $2,547 | $3,640 |
Source: Ownwell