Lima, Allen County, Ohio Property Taxes
Median Lima, OH effective property tax rate: 1.61%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Lima, OH home value: $97,600
Median annual Lima, OH tax bill: $1,546, $854 lower than the national median property tax bill of $2,400.
How are property taxes in Allen calculated?
Property taxes in Lima, OH are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lima’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lima, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lima, Allen County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.61%
Estimate Property Tax Bill
$1,571
$1,458
Property Tax Rates Across Lima, Allen County, Ohio
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the basic annual process.
In Lima, located in Allen County, Ohio, the effective property tax rate is a reflection of this process. The median property tax rate in Ohio is 1.61%, which is significantly higher than the national median of 1.02%. Within Allen County, tax rates can differ even further. For example, the highest median tax rate in the county is 1.95% in the 45806 ZIP code, while the lowest is 1.58% in the 45801 ZIP code. This comparison highlights how property tax rates can vary not only from state to state but also within different regions of a county, providing a more detailed understanding of the local tax landscape.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lima Tax Rate
1.61%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Allen County Tax Rate
1.57%
Median Effective Ohio Tax Rate
1.80%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lima, Allen County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45801 | 1.21% | 1.48% | 1.58% | 1.64% | 1.80% |
| 45804 | 1.16% | 1.53% | 1.61% | 1.72% | 2.08% |
| 45805 | 1.40% | 1.47% | 1.59% | 1.95% | 1.99% |
| 45806 | 1.45% | 1.54% | 1.95% | 1.99% | 2.22% |
| 45807 | 1.40% | 1.58% | 1.74% | 1.77% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Lima, Allen County, Ohio
When examining property taxes in Lima, OH, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Allen County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Allen County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lima. For example, the median home price in Lima is $97,600, with tax bills ranging significantly across the county. Zip code 45807 has the highest median home price at $150,000.
Property Tax Assessment Values Across Lima, Allen County, Ohio
Source: Ownwell
$35,400
$115,575
$195,750
Median Lima Market Value
$97,600
Median Allen County Market Value
$103,100
Median Ohio Market Value
$133,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lima, Allen County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45801 | $33,700 | $47,675 | $70,600 | $118,425 | $184,340 |
| 45804 | $17,600 | $24,200 | $35,400 | $76,800 | $148,400 |
| 45805 | $51,270 | $73,200 | $109,800 | $163,800 | $234,900 |
| 45806 | $84,770 | $113,525 | $145,050 | $188,100 | $250,260 |
| 45807 | $56,400 | $104,250 | $150,000 | $202,650 | $269,900 |
Source: Ownwell
Property Tax Bills Across Lima, Allen County, Ohio
Median Lima Tax Bill
$1,546
Median Allen County Tax Bill
$1,550
Median Ohio Tax Bill
$2,396
Median United States Tax Bill
$2,400
Property Tax Bills Across Lima, Allen County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45801 | $498 | $722 | $1,073 | $1,875 | $2,873 |
| 45804 | $268 | $408 | $592 | $1,280 | $2,348 |
| 45805 | $772 | $1,103 | $1,738 | $2,875 | $4,471 |
| 45806 | $1,405 | $2,004 | $2,699 | $3,482 | $4,457 |
| 45807 | $962 | $1,715 | $2,466 | $3,348 | $4,595 |
Source: Ownwell