Luckey, Ohio Property Taxes
The median property tax rate in Luckey, OH is 1.34%, 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 Luckey at $133,900, the typical annual property tax bill reaches $1,780, falling below the national median of $2,690. Property taxes in Luckey 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 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
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$1,794
$1,665
Ownwell’s Luckey Property Tax Bill Calculator empowers homeowners, real estate investors, and prospective buyers to 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 provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more granular details, localized neighborhood trends are available further down the page. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Luckey, Ohio
Property taxes in Luckey, Ohio, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Luckey is 1.34%, which is 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 areas in Ohio and the national median. For comparison, the zip code 43443 has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these areas compare with Luckey provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Luckey Tax Rate
1.34%
Average Wood County Tax Rate
1.62%
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 | 1.19% | 1.27% | 1.34% | 1.37% | 1.57% |
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 Wood 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. The median home price in Luckey is $133,900, with tax bills ranging from $731 at the 25th percentile to $3,670 at the 90th percentile. The highest and lowest median tax bill in the zip code 43443 is $1,780. 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 Luckey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Luckey Assessed Value
$133,900
Average Wood County Assessed Value
$163,900
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 | $5,030 | $41,925 | $133,900 | $192,075 | $286,490 |
Source: Ownwell
Property Tax Bills Across Luckey, Ohio
In Luckey, located in Wood County, OH, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value determined by the county assessor. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final amount, including property size, location, and any applicable exemptions or deductions. For homeowners in Luckey, the tax burden can vary significantly. The median home price is $133,900, and tax bills range widely. At the 25th percentile, homeowners might pay around $731 annually, while those at the 75th percentile could see bills as high as $2,533. At the 90th percentile, the tax bill can reach up to $3,670. These figures highlight how property taxes can impact household budgets, with higher-valued properties incurring more substantial tax obligations. Compared to the national median property tax rate of 0.99%, Luckey's rates reflect the local economic conditions and funding needs of the community.
Average Luckey Tax Bill
$1,780
Average Wood County Tax Bill
$2,615
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 | $65 | $731 | $1,780 | $2,533 | $3,670 |
Source: Ownwell