Lewisburg, Ohio Property Taxes
The median property tax rate in Lewisburg, OH is 1.60%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $129,700 in Lewisburg, the typical annual property tax bill amounts to $2,064, falling below the national median of $2,690. Property taxes in Lewisburg are determined based on the tax assessed value, generally lower than the market value due to exemptions such as primary residence and agricultural exemptions. Grasping the intricacies of Lewisburg's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial yearly savings. Whether you're situated in the core of Lewisburg or its surrounding areas, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Lewisburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.6%
Estimate Property Tax Bill
$2,075
Ownwell’s Lewisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lewisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lewisburg 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 Lewisburg, Ohio
Property taxes in Lewisburg, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lewisburg is 1.60%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Lewisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lewisburg 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 Lewisburg's effective property tax rate to other areas in Ohio and the national median. For comparison, the area with the highest median property tax rate in Preble County has a rate of 1.60%, while the area with the lowest median tax rate also has a rate of 1.60%. Understanding how these cities compare with Lewisburg provides valuable insights into the varying tax landscape across Preble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lewisburg Tax Rate
1.60%
Average Preble County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lewisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45338 | 0.95% | 1.37% | 1.60% | 1.81% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Lewisburg, Ohio
In Lewisburg, 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 Preble 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 Lewisburg, 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 Lewisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lewisburg are both $2,064 in the zip code 45338.
Average Lewisburg Assessed Value
$129,700
Average Preble County Assessed Value
$108,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lewisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45338 | $48,850 | $88,175 | $129,700 | $189,772 | $305,095 |
Source: Ownwell
Property Tax Bills Across Lewisburg, Ohio
In Lewisburg, located in Preble County, OH, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value, which is then multiplied by the local tax rate to calculate the annual property tax bill. For a median home price of $129,700, homeowners can expect varying tax bills. Factors such as the property's location, condition, and market trends are considered in the assessment. The 25th percentile tax bill in Lewisburg is $1,474, while the 75th percentile reaches $2,764, and the 90th percentile can climb to $3,651. This range illustrates the impact of different property values and assessment criteria on tax bills. Comparatively, the national median property tax rate is 0.99%, situating Lewisburg's tax rates within a competitive range. These property taxes fund essential local services, including schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors helps residents anticipate their financial obligations and the benefits they receive in return.
Average Lewisburg Tax Bill
$2,064
Average Preble County Tax Bill
$1,629
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lewisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45338 | $944 | $1,474 | $2,064 | $2,764 | $3,651 |
Source: Ownwell