Laurelville, Ohio Property Taxes
The median property tax rate in Laurelville, OH is 1.23%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Laurelville at $91,940, the typical annual property tax bill amounts to $1,053, falling below the national median of $2,690. Property taxes in Laurelville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Laurelville'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 Laurelville 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
Laurelville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,131
$1,049
Ownwell’s Laurelville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laurelville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laurelville 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 Laurelville, Ohio
Property taxes in Laurelville, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Laurelville is 1.23%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Laurelville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laurelville 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 Laurelville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43135 zip code has the highest median property tax rate of 1.23%, while the same zip code also records the lowest median tax rate of 1.23%. Understanding how these cities compare with Laurelville provides valuable insights into the varying tax landscape across Ross County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laurelville Tax Rate
1.23%
Average Ross County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laurelville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43135 | 0.90% | 1.20% | 1.23% | 1.26% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Laurelville, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Laurelville, 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 Ross 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. Assessment notices in Laurelville 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Laurelville, the highest median tax bill is $1,053 in zip code 43135, while the lowest median tax bill is also $1,053 in the same zip code.
Average Laurelville Assessed Value
$91,940
Average Ross County Assessed Value
$96,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laurelville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43135 | $3,060 | $19,815 | $91,940 | $162,615 | $230,660 |
Source: Ownwell
Property Tax Bills Across Laurelville, Ohio
In Laurelville, located in Ross County, OH, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in this area experience a range of tax bills, with the 25th percentile at $282 and the 75th percentile at $1,875, reflecting a significant variation depending on property value and applicable exemptions. The median home price in Laurelville is $91,940, and this valuation plays a crucial role in determining the tax bill. Factors such as local tax rates and any qualifying exemptions significantly impact the final amount. For example, the highest median tax bill in the region is $1,053, which is notably above the national median property tax rate of 0.99%. These tax bills directly influence homeowners' annual expenses, potentially affecting their financial planning and property investment decisions. Understanding these components helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Laurelville Tax Bill
$1,053
Average Ross County Tax Bill
$1,236
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Laurelville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43135 | $55 | $282 | $1,053 | $1,875 | $2,755 |
Source: Ownwell