North Lewisburg, Ohio Property Taxes
The median property tax rate in North Lewisburg, OH is 1.33%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in North Lewisburg at $304,765, the typical annual property tax bill reaches $3,817, surpassing the national median of $2,690. Property taxes in North Lewisburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural use. Understanding North Lewisburg'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 North Lewisburg 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
North Lewisburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$4,053
$3,761
Ownwell’s North Lewisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Lewisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North 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 North Lewisburg, Ohio
Property taxes in North 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 North Lewisburg is 1.33%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within North Lewisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, North 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 North Lewisburg's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43060 has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these areas compare with North Lewisburg provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Lewisburg Tax Rate
1.33%
Average Union County Tax Rate
1.44%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Lewisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43060 | 0.80% | 1.28% | 1.33% | 1.33% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across North Lewisburg, Ohio
In North 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 Union 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 North 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. The median home price in North Lewisburg is $304,765, with tax bills ranging from $3,002 at the 25th percentile to $7,668 at the 90th percentile. The zip code 43060 has both the highest and lowest median tax bill at $3,817. 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.
Average North Lewisburg Assessed Value
$304,765
Average Union County Assessed Value
$249,955
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Lewisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43060 | $140,110 | $238,052 | $304,765 | $450,952 | $619,620 |
Source: Ownwell
Property Tax Bills Across North Lewisburg, Ohio
In North Lewisburg, Union County, OH, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Various factors influence the assessed value, including the property's location, size, and condition. For example, the median home price in North Lewisburg stands at $304,765. Homeowners in North Lewisburg can expect property tax bills to vary significantly. At the 25th percentile, tax bills are around $3,002, while at the 75th percentile, they rise to $5,341. At the 90th percentile, they can reach up to $7,668. The highest and lowest median tax bills in the area are both $3,817, reflecting the uniformity in tax rates across different properties. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding how these bills are calculated helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average North Lewisburg Tax Bill
$3,817
Average Union County Tax Bill
$3,900
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across North Lewisburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43060 | $1,862 | $3,002 | $3,817 | $5,341 | $7,668 |
Source: Ownwell