Leipsic, Ohio Property Taxes
The median property tax rate in Leipsic, OH is 1.38%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Leipsic, the typical annual property tax bill reaches $1,510, which is below the national median of $2,690. Property taxes in Leipsic 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 Leipsic'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 Leipsic or another part of Putnam County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leipsic, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,512
$1,403
Ownwell’s LEIPSIC Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LEIPSIC with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LEIPSIC 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 Leipsic, Ohio
Property taxes in Leipsic, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leipsic is 1.38%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Leipsic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leipsic 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 Leipsic's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45856 zip code has the highest median property tax rate of 1.38%, while the 45856 zip code has the lowest median tax rate of 1.38%. Understanding how these cities compare with Leipsic provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leipsic Tax Rate
1.38%
Average Putnam County Tax Rate
1.30%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leipsic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45856 | 1.00% | 1.20% | 1.38% | 1.42% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Leipsic, Ohio
In Leipsic, 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 Putnam County Auditor 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 Leipsic, 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 Leipsic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Leipsic, the zip code 45856 has both the highest and lowest median tax bill, each at $1,510.
Average Leipsic Assessed Value
$109,590
Average Putnam County Assessed Value
$132,830
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leipsic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45856 | $22,670 | $61,792 | $109,590 | $178,915 | $302,715 |
Source: Ownwell
Property Tax Bills Across Leipsic, Ohio
In Leipsic, located in Putnam County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property 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. For homeowners in Leipsic, the median home price is $109,590. The tax bill varies significantly, with the 25th percentile at $888 and the 75th percentile at $2,328. The highest median tax bill in the area is $1,510. These figures illustrate the range of property tax burdens that residents may face. Factors such as property improvements, neighborhood changes, and local government budgets can influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, the property tax rate in Leipsic impacts homeowners differently based on their property's assessed value, contributing to varying financial responsibilities.
Average Leipsic Tax Bill
$1,510
Average Putnam County Tax Bill
$1,712
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Leipsic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45856 | $411 | $888 | $1,510 | $2,328 | $3,427 |
Source: Ownwell