Lucasville, Ohio Property Taxes
The median property tax rate in Lucasville, Ohio is 1.15%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $32,340 in Lucasville, the typical annual property tax bill is $344, which is significantly below the national median of $2,690. Property taxes in Lucasville are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. By understanding Lucasville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Lucasville or another part of Pike County, gaining insight into the local property tax system is beneficial.
Last Updated June 14, 2024
Lucasville, 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 Lucasville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lucasville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lucasville 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 Lucasville, Ohio
Property taxes in Lucasville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lucasville is 1.23%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Lucasville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lucasville 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 Lucasville's effective property tax rate to other counties in Ohio and the national median. For comparison, 45648 has the highest median property tax rate of 1.23%, while 45648 also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Lucasville provides valuable insights into the varying tax landscape across Scioto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lucasville Tax Rate
1.15%
Average Pike County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lucasville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45648 | 0.60% | 1.07% | 1.15% | 1.18% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Lucasville, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lucasville, Ohio. 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 Pike 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 Lucasville, 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 Lucasville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $344.00 in the 45648 zip code, while the lowest is also $344.00 in the same zip code.
Average Lucasville Assessed Value
$32,340
Average Pike County Assessed Value
$47,540
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lucasville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45648 | $2,155 | $8,445 | $32,340 | $90,880 | $147,650 |
Source: Ownwell
Property Tax Bills Across Lucasville, Ohio
In Lucasville, property tax bills are determined based on the assessed value of a home, which is derived from the market value. The median home price in Lucasville stands at $32,340. Property taxes are calculated by applying the local tax rate to the assessed value, which can significantly impact homeowners. For instance, the 25th percentile of tax bills is around $82, while the 75th percentile reaches approximately $940. Meanwhile, the 90th percentile tax bill can go up to $1,539. These property tax bills are influenced by various factors, including the market value of the property, local tax rates, and any applicable exemptions. Homeowners in Lucasville face property tax bills that can vary widely, affecting their overall financial planning and homeownership costs. Compared to the national median property tax rate of 0.99%, homeowners in Lucasville experience relatively lower tax burdens, but the variability still underscores the importance of understanding local tax assessments and potential exemptions.
Average Lucasville Tax Bill
$344
Average Pike County Tax Bill
$512
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lucasville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45648 | $31 | $82 | $344 | $940 | $1,539 |
Source: Ownwell