Lebanon, Ohio Property Taxes
The median property tax rate in Lebanon, OH is 1.69%, which is considerably higher than the national median of 0.99% but slightly lower than Ohio's state median of 1.80%. With a median home value of $234,180 in Lebanon, the typical annual property tax bill reaches $3,825, significantly exceeding the national median of $2,690. Property taxes in Lebanon 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 Lebanon'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 Lebanon 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
Lebanon, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$3,958
$3,673
Ownwell’s Lebanon Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lebanon with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lebanon to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by Warren County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Lebanon, Ohio
Property taxes in Lebanon, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Lebanon is 1.69%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Lebanon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lebanon 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 Lebanon's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45036 zip code has the highest median property tax rate of 1.69%, while the 45036 zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Lebanon provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lebanon Tax Rate
1.69%
Average Warren County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lebanon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45036 | 1.50% | 1.53% | 1.69% | 1.69% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Ohio
In Lebanon, 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 Warren 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 Lebanon, 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 Lebanon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lebanon is $3,825 in zip code 45036, and the lowest median tax bill is also $3,825 in the same zip code.
Average Lebanon Assessed Value
$234,180
Average Warren County Assessed Value
$234,580
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lebanon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45036 | $127,529 | $169,555 | $234,180 | $334,155 | $441,407 |
Source: Ownwell
Property Tax Bills Across Lebanon, Ohio
In Lebanon, located in Warren County, OH, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor and typically represents a percentage of the property's market value. The property tax rate in Lebanon is then applied to this assessed value to determine the annual tax bill. Various factors are considered, including property improvements, neighborhood characteristics, and market trends. For homeowners in Lebanon, the median home price is $234,180. Property tax bills can vary significantly, with the 25th percentile at $2,794 and the 75th percentile reaching $5,276. For those in the 90th percentile, tax bills can go as high as $7,141. The highest median tax bill recorded is $3,825, which is consistent across the zip code 45036. These tax rates and bills can have a substantial impact on homeowners' finances, influencing decisions on home purchases and long-term residency. Compared to the national median property tax rate of 0.99%, Lebanon's rates reflect the specific economic and real estate conditions of the area.
Average Lebanon Tax Bill
$3,825
Average Warren County Tax Bill
$3,873
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Lebanon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45036 | $2,026 | $2,794 | $3,825 | $5,276 | $7,141 |
Source: Ownwell