How Property Taxes are Calculated

Under Ohio law, the Auditor determines a fair market value for each property - an agreed upon price between a willing buyer and seller in the open market.

The Treasurer collects taxes based on property value and current tax rates (millage).

Taxes are determined by voters. The following lists the formulas that the State of Ohio has authorized for the calculation of property taxes.

Market Value x 35% = Assessed Value
Example: $100,000 x .35 = $35,000

(Assessed Value x Tax Rate)/1000 = Current Real Estate Tax/Year
Example: ($35,000 x 99.51)/1000 = $3,482.85
List of current and previous Tax Rates for Lucas County.

Current Tax x Reduction Factors = Reduction Credits
Provided by Ohio Law

Current Tax - Reduction Credits = Tax Subtotal

Tax Subtotal - Non-Business Credit = Net Taxes Per Year
Owner Occupied Credit

Net Tax + Special Assessments = Total Taxes Per Year
(if applicable)

Total Tax / 2 = Current Half Tax Due

How are your tax dollars allocated?



Two tools on AREIS Online, the Levy Estimator and Tax Distributor, indicate the amounts currently paid to the taxing agencies and jurisdictions, and also estimate the effect that proposed levies will have on individual parcels in Lucas County; assuming the proposed levies are in effect in the current year.