Ludlow Falls, Ohio Property Taxes
The median property tax rate in Ludlow Falls, OH is 1.22%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $185,300 in Ludlow Falls, the typical annual property tax bill is $2,085, which is below the national median of $2,690. Property taxes in Ludlow Falls are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Ludlow Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ludlow Falls or another part of Miami County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ludlow Falls, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$2,261
Ownwell’s Ludlow Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ludlow Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ludlow Falls 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 Ludlow Falls, Ohio
Property taxes in Ludlow Falls, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ludlow Falls is 1.22%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Ludlow Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ludlow Falls 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 Ludlow Falls' effective property tax rate to other counties in Ohio and the national median. For comparison, the 45339 zip code has the highest median property tax rate of 1.22%, while the same 45339 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Ludlow Falls 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 Ludlow Falls 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 Ludlow Falls, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45339 | 0.90% | 1.08% | 1.22% | 1.26% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Ludlow Falls, Ohio
In Ludlow Falls, 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 Ludlow Falls, 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. The median home price in Ludlow Falls is $185,300, with tax bills ranging from $1,124 at the 25th percentile to $4,280 at the 90th percentile. The zip code with the highest median tax bill is 45339, with a median tax bill of $2,085. 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 Ludlow Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ludlow Falls Assessed Value
$185,300
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 Ludlow Falls, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45339 | $40,080 | $89,900 | $185,300 | $270,000 | $368,900 |
Source: Ownwell
Property Tax Bills Across Ludlow Falls, Ohio
In Ludlow Falls, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor's office. The assessed value is a percentage of the market value of the home. Various factors, including the property's location, size, and condition, influence this valuation. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Ludlow Falls, the median home price is $185,300. Property tax bills vary significantly, with the 25th percentile tax bill at $1,124 and the 75th percentile tax bill reaching $3,160. At the 90th percentile, homeowners might see a tax bill as high as $4,280. These figures highlight the range of property tax burdens within the community, which can impact household budgets and the overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Ludlow Falls residents experience a diverse range of property tax obligations, influenced by the specific characteristics of their properties.
Average Ludlow Falls Tax Bill
$2,085
Average Miami County Tax Bill
$2,118
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Ludlow Falls, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45339 | $526 | $1,124 | $2,085 | $3,160 | $4,280 |
Source: Ownwell