Lakeside Marblehead, Ohio Property Taxes
The median property tax rate in Lakeside Marblehead, OH is 1.20%, which is higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Lakeside Marblehead at $139,020, the typical annual property tax bill reaches $1,662, surpassing the national median of $2,690. Property taxes in Lakeside Marblehead 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 Lakeside Marblehead'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 Lakeside Marblehead 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
Lakeside Marblehead, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,668
$1,548
Ownwell’s Lakeside Marblehead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakeside Marblehead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeside Marblehead 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 Lakeside Marblehead, Ohio
Property taxes in Lakeside Marblehead, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeside Marblehead is 1.20%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Lakeside Marblehead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeside Marblehead 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 Lakeside Marblehead's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43440 zip code has the highest median property tax rate of 1.20%, while the 43440 zip code also has the lowest median tax rate of 1.20%. Understanding how these areas compare with Lakeside Marblehead 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 Lakeside Marblehead Tax Rate
1.20%
Average Ottawa County Tax Rate
1.28%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeside Marblehead, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43440 | 1.18% | 1.20% | 1.20% | 1.21% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Lakeside Marblehead, Ohio
In Lakeside Marblehead, 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 Lakeside Marblehead, 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. Being aware of these valuation processes in Lakeside Marblehead helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,662, found in the 43440 zip code.
Property Tax Assessment Values Across Lakeside Marblehead, Ohio
Source: Ownwell
$66,170
$167,215
$268,260
Average Lakeside Marblehead Assessed Value
$139,020
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 Lakeside Marblehead, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43440 | $9,596 | $54,270 | $139,020 | $292,950 | $463,283 |
Source: Ownwell
Property Tax Bills Across Lakeside Marblehead, Ohio
In Lakeside Marblehead, property tax bills are calculated based on the assessed value of a home, which is determined by the Ottawa County assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in this area can expect their tax bills to vary significantly depending on the value of their property. For instance, the median home price in Lakeside Marblehead is $139,020, which results in a wide range of tax bills. The 25th percentile tax bill is approximately $645, while those in the 75th percentile see bills around $3,555. At the 90th percentile, tax bills can reach up to $5,707. These variations highlight the impact of property values on tax obligations, making it crucial for homeowners to understand how their property is assessed and the local tax rates. Comparing these figures to the national median property tax rate of 0.99% provides a useful perspective on local tax burdens.
Average Lakeside Marblehead Tax Bill
$1,662
Average Ottawa County Tax Bill
$1,848
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeside Marblehead, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43440 | $121 | $645 | $1,662 | $3,555 | $5,707 |
Source: Ownwell