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Home > Blogs > Lakota Schools News and Issues > Archives > 2010 > July > 22 > Entry
What are homes worth in the Lakota Local School District?
I am weighing in on this topic again, because I keep getting more e-mails, comments, etc. about the way levy information is communicated based on $100,000 homes. It got me thinking about the demographic stats in this area, and here is what I found.
The median home value in West Chester in 2009 was $184,000 according to a township report based off the census.
The average home value was $199,195.
The median family income was $78,258 with the average at $93,546.
According to Liberty Township’s 2007 estimates from Census data, the median household income was $86,111. The median household value was $170,500.
So, the conclusions I have drawn are this: The average person in this area lives in a home that comes close to $200,000. But, if we look at median numbers, there are quite a few households who fall to either side of that number.
It seems to me like fairly simple math to estimate the levy cost, but apparently it is a hot topic. So, hopefully the levy calculators helped in the previous post. It isn’t perfect for everyone, but it gives most people an idea.
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By Randy B
July 23, 2010 9:21 PM | Link to this
The levy is based on assessed value. So in butler county is 35% of the appraised value.Here is Ohio definition of a Mill: Mill – a measurement equal to one-tenth of 1.0 percent; often used to refer to the amount of property tax imposed on real or personal property (e.g., a 2.5 mill tax levy imposed on a home with an assessed value of $100,000 amounts to $250 in tax).
By John
July 25, 2010 3:31 PM | Link to this
Randy, Here’s how it works: Tax Levy “Mills” One mill = an annual tax of $1.00 per $1,000 of assessed property value. Assessed property value = 35% of appraised property value, as determined by the county auditor. (The auditor appraises all property at 100% of its market value every six years, and makes an interim update on the third year after each reappraisal. The auditor sets your “assessed value” at 35% of that appraised market value). So, for property with an appraised market value of $100,000, one mill equals $35 in annual taxes: Appraised value: $100,000 x 0.35 = assessed value: $35,000 x $1 per $1000 assessed value = annual tax: $35 But, that annual tax liability is reduced by 10% for residential or agricultural property, and by an additional 2.5% for owner-occupied residential property: Residential/agricultural property (Ohio Revised Code section 319.302): $35 x 0.90 = $31.50 Owner-occupied residential property (ORC 323.152): $35 x 0.875 = $30.63 ORC 323.152 also provides an additional homestead reduction for persons who are disabled or age 65 and older, but it’s complicated. For purposes of this website, I use the owner-occupied residential property rate for tax calculations, so each mill of property tax = $30.63 in annual taxes per $100,000 appraised property value.
By John
July 25, 2010 3:37 PM | Link to this
Randy, A home with a $100,000 assessed value would have an appraised value of $285,714. The property taxes on your example would be $219 for someone under age 65 or $200 if you are 65 or older.
By Tigimmomciz
July 26, 2010 8:55 AM | Link to this
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By janie
July 27, 2010 9:56 PM | Link to this
i think taxes are 2 high…alot of people r taking cuts
By janie
July 27, 2010 10:01 PM | Link to this
2 MANY PEOPLE R CUTTING BACK WITH THEIR FAMILIES, BUT U WANT US TO SPEND R MONEY ON TAXES FOR SCHOOLS THAT WASTE… LETS HAVE AVEAGE PEOPLE GIVE U IDEALS ON HOW TO CUT BACK….