Loveland, Ohio Property Taxes
The median property tax rate in Loveland, OH is 1.98%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Loveland at $279,660, the typical annual property tax bill reaches $5,302, significantly exceeding the national median of $2,690. Property taxes in Loveland 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 Loveland'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 Loveland or another part of Warren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Loveland, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$5,537
$5,138
Ownwell’s Loveland Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Loveland with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Loveland to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those curious about neighborhood-level trends, additional localized information is available. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Loveland, Ohio
Property taxes in Loveland, Ohio, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Loveland is 1.98%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Loveland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loveland 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 Loveland's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45140 has the highest median property tax rate of 1.98%, while the same zip code also has the lowest median tax rate of 1.98%. Understanding how these cities compare with Loveland 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 Loveland Tax Rate
1.98%
Average Warren County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loveland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45140 | 1.72% | 1.75% | 1.98% | 2.00% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Loveland, Ohio
In Loveland, 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 Loveland, 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 Loveland is $279,660, with tax bills ranging from $3,391 at the 25th percentile to $8,812 at the 90th percentile. The zip code 45140 has both the highest and lowest median tax bills, each at $5,302. 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 Loveland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Loveland Assessed Value
$279,660
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 Loveland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45140 | $128,370 | $177,070 | $279,660 | $359,790 | $462,490 |
Source: Ownwell
Property Tax Bills Across Loveland, Ohio
In Loveland, property tax bills are calculated based on the assessed value of a home, which is determined by the Warren County assessor's office. This assessed value is a percentage of the property's market value. Several factors influence the tax bill, including the property's location, size, and any improvements made. Homeowners in Loveland face a median tax bill of $5,302, which is significantly higher than the national median property tax rate of 0.99%. For instance, the tax bill for the 25th percentile is $3,391, while the 75th percentile sees bills around $6,827, and the 90th percentile can reach up to $8,812. These figures highlight the variability in tax bills, which can impact homeowners' financial planning and overall cost of living. Understanding these factors is crucial for homeowners to anticipate their annual property tax liabilities accurately.
Average Loveland Tax Bill
$5,302
Average Warren County Tax Bill
$3,873
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Loveland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45140 | $2,372 | $3,391 | $5,302 | $6,827 | $8,812 |
Source: Ownwell