Under Ohio law, it is the Auditor's responsibility to determine a fair market value for each property - an agreed upon price between a willing buyer and seller in the open market.  The Treasurer's responsibility is to collect the tax based on the property value and current voted tax rate (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

Assessed Value         x  Tax Rate                   =  Current Real Estate Tax/Year

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

Current Tax              -  Reduction Credits        =  Tax Subtotal

Tax Subtotal             - 10% Rollback              =  Net Taxes Per Year
                                 2.5% Rollback

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

Total Tax                 /  2                             =  Current Half Tax Due

Two tools on AREIS Online, the Levy Estimator and Tax Distributor, indicate the amounts currently paid to the various 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.