Lucasville, Ohio Property Taxes
The median property tax rate in Lucasville, OH is 1.49%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $84,340 in Lucasville, the typical annual property tax bill reaches $1,164, which is below the national median of $2,690. Property taxes in Lucasville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lucasville'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 Lucasville or another part of Scioto County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lucasville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,257
$1,166
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, OH, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lucasville is 1.49%, higher than both the Ohio state median 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, the 45648 zip code has the highest median property tax rate of 1.49%, while the 45648 zip code also has the lowest median tax rate of 1.49%. 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
1.49%
Average Scioto County Tax Rate
1.59%
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 | 0.96% | 1.31% | 1.49% | 1.59% | 1.69% |
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 represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Scioto 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 Lucasville 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. For instance, the median home price in Lucasville is $84,340, with tax bills ranging from $515 at the 25th percentile to $2,914 at the 90th percentile. The zip code 45648 has the highest median tax bill of $1,164. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lucasville Assessed Value
$84,340
Average Scioto County Assessed Value
$71,410
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 | $16,835 | $40,658 | $84,340 | $140,532 | $202,135 |
Source: Ownwell
Property Tax Bills Across Lucasville, Ohio
Property tax bills in Lucasville, located in Scioto County, OH, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. In Lucasville, the median home price is $84,340, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $515, while the 75th percentile reaches $2,029, and the 90th percentile climbs to $2,914. These variations highlight how property values and local tax rates can impact homeowners differently. The highest and lowest median tax bills in Lucasville are both $1,164, emphasizing a level of consistency in certain areas. Understanding these factors is crucial for homeowners as property taxes can significantly impact annual housing costs, influencing overall affordability and financial planning.
Average Lucasville Tax Bill
$1,164
Average Scioto County Tax Bill
$1,073
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 | $220 | $515 | $1,164 | $2,029 | $2,914 |
Source: Ownwell