Lima, Putnam County, Ohio Property Taxes
Median Lima, OH effective property tax rate: 1.52%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Lima, OH home value: $87,015
Median annual Lima, OH tax bill: $1,162, $1,238 lower than the national median property tax bill of $2,400.
How are property taxes in Putnam County 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, Putnam County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.52%
Estimate Property Tax Bill
$1,323
$1,227
Property Tax Rates Across Lima, Putnam County, Ohio
Local government entities set tax rates, which can vary widely within a state. This variation is due to the fact that each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although the process involves votes and laws to set tax rates and budgets, this is the core of the annual procedure.
In Lima, located in Allen County, Ohio, the effective property tax rate is 1.52%, which is higher than the national median property tax rate of 1.02%. This means that homeowners in Lima are paying more in property taxes compared to the national average. With a median property tax bill of $2,400 nationally, property owners in Lima might find themselves paying more than this amount due to the higher rate. Comparing Lima's effective property tax rate to other cities in Ohio and the national median provides insight into how property taxes can significantly differ based on location. Understanding these differences can help property owners make informed decisions about their investments and potential savings through property tax appeals or exemptions.
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
1.52%
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 Putnam County Tax Rate
1.30%
Median Effective Ohio Tax Rate
1.80%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lima, Putnam County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45807 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Lima, Putnam 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 Putnam 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.
Assessment notices:
In Putnam County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 $87,015, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Lima, Putnam County, Ohio
Source: Ownwell
$74,140
$133,770
$193,400
Median Lima Market Value
$87,015
Median Putnam County Market Value
$132,830
Median Ohio Market Value
$133,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lima, Putnam County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45807 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Lima, Putnam County, Ohio
In Lima, Putnam County, OH, property tax bills are determined by assessing the value of a home and applying the local tax rate. The assessed value is a percentage of the home's market value, which is influenced by factors such as location, size, and property features. With a median home price of $87,015, property tax bills can vary significantly. Homeowners at the 25th percentile pay around $739, while those at the 90th percentile face bills as high as $1,841. Despite being below the national median property tax rate of 1.02%, these bills can still strain homeowners' budgets.
Ownwell offers a solution by helping homeowners appeal their property tax assessments and secure exemptions. By analyzing your property's assessed value and comparing it to similar properties, Ownwell identifies potential savings and guides you through the appeal process. This personalized approach not only reduces your tax burden but also ensures you're not overpaying, providing peace of mind and financial relief.
Median Lima Tax Bill
$1,162
Median Putnam County Tax Bill
$1,712
Median Ohio Tax Bill
$2,396
Median United States Tax Bill
$2,400
Property Tax Bills Across Lima, Putnam County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45807 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell