Luckey, Ohio Property Taxes
The median property tax rate in Luckey, OH is 1.35%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Luckey at $221,050, the typical annual property tax bill amounts to $2,927, surpassing the national median of $2,690. Property taxes in Luckey are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Luckey'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 Luckey 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
Luckey, 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 Luckey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Luckey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Luckey 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 Luckey, Ohio
Property taxes in Luckey, Ohio, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Luckey is 1.35%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Luckey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Luckey 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 Luckey's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43443 zip code has the highest median property tax rate of 1.35%, while the lowest median tax rate also stands at 1.35%. Understanding how these cities compare with Luckey provides valuable insights into the varying tax landscape across Sandusky County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Luckey Tax Rate
1.35%
Average Sandusky County Tax Rate
1.42%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Luckey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43443 | 1.30% | 1.32% | 1.35% | 1.39% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Luckey, Ohio
In Luckey, 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 Sandusky 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 Luckey, 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. The median home price in Luckey is $221,050. The median tax bill at the 25th percentile is $2,391, while at the 75th percentile, it is $3,463. The zip code 43443 has the highest median tax bill of $2,927, which is also the lowest median tax bill in the area. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Luckey Assessed Value
$221,050
Average Sandusky County Assessed Value
$110,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Luckey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43443 | $148,610 | $175,775 | $221,050 | $266,325 | $293,490 |
Source: Ownwell
Property Tax Bills Across Luckey, Ohio
In Luckey, located in Sandusky County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Luckey is $221,050. Tax bills vary significantly, with the 25th percentile at $2,391 and the 75th percentile at $3,463, indicating a range of tax burdens depending on property values and applicable exemptions. Factors influencing the tax bill include the property's assessed value, local tax rates, and any exemptions or deductions for which the homeowner may qualify. The property tax rate in Luckey is influenced by local government budgets and school district funding needs. For homeowners, this means that higher property values can lead to proportionally higher tax bills. Compared to the national median property tax rate of 0.99%, Luckey’s rates can seem relatively high, which affects homeowners by potentially increasing their annual housing costs. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Luckey Tax Bill
$2,927
Average Sandusky County Tax Bill
$1,549
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Luckey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43443 | $2,069 | $2,391 | $2,927 | $3,463 | $3,785 |
Source: Ownwell