Lacarne, Ohio Property Taxes
The median property tax rate in Lacarne, OH is 1.30%, notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Lacarne at $69,630, the typical annual property tax bill is $772, which is significantly below the national median of $2,690. Property taxes in Lacarne are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Lacarne'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 Lacarne or another part of Ottawa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lacarne, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s LaCarne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LaCarne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LaCarne 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 Lacarne, Ohio
Property taxes in LaCarne, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LaCarne is 1.30%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within LaCarne set these rates annually, and they can vary significantly across different neighborhoods. Each year, LaCarne 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 LaCarne's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43439 zip code has both the highest and lowest median property tax rate of 1.30%. Understanding how these areas compare with LaCarne provides valuable insights into the varying tax landscape across Ottawa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lacarne Tax Rate
1.30%
Average Ottawa County Tax Rate
1.28%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lacarne, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43439 | 0.89% | 1.26% | 1.30% | 1.32% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Lacarne, Ohio
In LaCarne, 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 Ottawa 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 LaCarne, 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 example, the median home price in LaCarne is $69,630, with tax bills ranging from $525 at the 25th percentile to $1,440 at the 90th percentile. The highest median tax bill in the area is $772 in zip code 43439, which also happens to have the lowest median 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. Being aware of these valuation processes in LaCarne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lacarne Assessed Value
$69,630
Average Ottawa County Assessed Value
$131,980
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lacarne, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43439 | $11,598 | $31,670 | $69,630 | $91,380 | $123,054 |
Source: Ownwell
Property Tax Bills Across Lacarne, Ohio
In LaCarne, Ottawa County, OH, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in LaCarne is $69,630. The local tax rate, when applied to this assessed value, determines the annual tax bill. For homeowners, this means the tax bill can vary significantly depending on their property's market value and the specific rate applied. For instance, the tax bill at the 25th percentile is $525, while at the 75th percentile, it rises to $1,116. At the 90th percentile, it can reach up to $1,440. These variations illustrate how assessed property values and local tax rates directly impact what homeowners owe. Compared to the national median property tax rate of 0.99%, the local rates in LaCarne can lead to different financial obligations for residents. Understanding these factors is crucial for homeowners to anticipate and manage their property tax responsibilities effectively.
Average Lacarne Tax Bill
$772
Average Ottawa County Tax Bill
$1,848
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lacarne, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43439 | $148 | $525 | $772 | $1,116 | $1,440 |
Source: Ownwell