Example of Logan County Property Tax Calculation
Logan County calculates property tax based on the assessed value of the property. For example, if a property is valued at $100,000, and the tax rate is 1%, the property tax would be $1,000.
To determine the assessed value of a property, the county tax assessor's office takes into account factors such as the size of the property, location, and any improvements made to the property. Once the assessed value is determined, it is multiplied by the tax rate to calculate the property tax owed.
It's important to note that property tax rates and assessment procedures may vary by county and state. Homeowners can typically find information on their local property tax rates and assessment procedures on their county or state government website.
If you want appeal your property tax assessment - contact your local tax assessor.
Logan County Property Tax Rates
The Logan County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General | $0.73 |
| School | $0.66 |
| Library | $0.08 |
| Health | $0.05 |
| Conservation | $0.03 |
Note that these rates are subject to change and may vary based on individual property assessments. It is recommended to consult with a local tax advisor for specific and up-to-date tax information.
Who sets property tax rates in Logan County ?
Who sets property tax rates in Logan County?
Property tax rates in Logan County are set by the local government. Specifically, the Logan County Board of Commissioners is responsible for establishing property tax rates each year.
When are property tax rates set in Logan County?
Property tax rates in Logan County are typically set annually, based on the county's budgetary needs. The Board of Commissioners typically holds public hearings in the weeks leading up to the finalization of the tax rates, allowing residents and stakeholders to provide input on the proposed rates.
Once the rates are set, they are applied to the assessed value of each individual property within the county. Property owners typically receive their tax bills in the fall, with payment due by the end of the year.
It's important for property owners in Logan County to understand the property tax rate and how it is determined, as it can have a significant impact on their annual property tax bill.
Homestead exemptions in Logan County ?
To assist Logan County residents with their Homestead exemptions and deductions, the following table outlines the exemption, eligibility, amount, and any additional notes for each county-specific option.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Owner-occupied property as of January 1st | $6,000 or 10% of the assessed value, whichever is less | The property must be the primary residence |
| Senior Citizens Homestead Exemption | Owner-occupied property as of January 1st and at least 65 years old | An additional $5,000 reduction to the general exemption | Must be the primary residence, and the property owner must have owned the property for at least one year |
| Senior Citizens Assessment Freeze Homestead Exemption | Owner-occupied property as of January 1st and at least 65 years old | Freezes the assessed value of the property | Must have a total household income of no more than $65,000 |
| Homestead Improvement Exemption | Owner-occupied property as of January 1st | Up to $25,000 in assessed value for home improvements | Improvements must increase the assessed value of the property by at least 25% |
| Returning Veterans' Homestead Exemption | Owner-occupied property as of January 1st and an honorably discharged veteran | $5,000 reduction to the assessed value of the property | Must have served at least one day on active duty in a foreign theater of conflict |
| Disabled Veterans' Standard Homestead Exemption | Owner-occupied property as of January 1st and a veteran with a disability | $2,500 reduction to the assessed value of the property | Must have a service-connected disability |
| Disabled Veterans' Homestead Exemption | Owner-occupied property as of January 1st and a veteran with a disability | An additional $5,000 reduction to the assessed value of the property | Must have a service-connected disability of at least 70% |
Remember, it's important to understand the eligibility requirements and any additional notes for each exemption or deduction before applying. Residents can contact the Logan County Assessor's office for more information and assistance with these options.
When is Logan County Property Tax due ?
Logan County Property Tax is typically due on January 31st of each year. There are several payment methods available to taxpayers, including:
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Online Payment: Taxpayers can pay their property tax online using a credit or debit card or by electronic check. This can be done through the Logan County Treasurer's website.
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Mail-in Payment: Taxpayers can also pay their property tax by mailing a check, along with the payment stub from their tax bill, to the Logan County Treasurer's office.
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In-person Payment: Taxpayers can make an in-person payment at the Logan County Treasurer's office located in the Logan County Courthouse.
It's important to note that failing to pay property taxes on time can result in penalties and interest. If a taxpayer is unable to pay their property tax in full by the due date, they may be eligible for a payment plan. More information on payment options and eligibility can be found on the Logan County Treasurer's website.
| Payment Method | How to Pay |
|---|---|
| Online Payment | Pay through the Logan County Treasurer's website using a credit or debit card or electronic check. |
| Mail-in Payment | Mail a check and payment stub to the Logan County Treasurer's office. |
| In-person Payment | Make a payment in person at the Logan County Treasurer's office located in the Logan County Courthouse. |
If you have more questions - contact your local tax collector.
How is Logan County Property Tax penalty calculated ?
Logan County Property Tax Penalty Calculation
Logan County, like most counties in the United States, levies property taxes on its citizens based on the value of their real estate holdings. Property owners in Logan County are required to pay their property taxes by the due date specified on their tax bill. Failure to do so results in a penalty being applied to the amount owed. The penalty is calculated as a percentage of the unpaid taxes and accrues each month until the balance is paid in full.
Calculating the penalty is a relatively straightforward process. The formula used to calculate the penalty is:
Penalty = (Unpaid Taxes x Penalty Rate x Number of Months Late)
The penalty rate is determined by the Logan County Board of Supervisors and can vary from year to year. For example, if the penalty rate for the current year is 1% and the property owner owes $5,000 in taxes, the penalty for one month of late payment would be:
Penalty = ($5,000 x 0.01 x 1) = $50
If the property owner is three months late in paying their taxes, the penalty would be:
Penalty = ($5,000 x 0.01 x 3) = $150
It is important to note that the penalty continues to increase each month until the taxes are paid in full or until the property is sold in a tax sale.
In summary, the penalty for late payment of Logan County property taxes is calculated as a percentage of the unpaid taxes and increases each month until the balance is paid in full or until the property is sold in a tax sale. Property owners are encouraged to pay their taxes on time to avoid incurring penalties.
| Month Late | Penalty Rate | Penalty Amount |
|---|---|---|
| 1 | 1% | $50 |
| 2 | 1% | $100 |
| 3 | 1% | $150 |
| 4 | 1% | $200 |
| 5 | 1% | $250 |
| 6 | 1% | $300 |
We recommend contacting the Logan County Tax Office or a local tax professional for the most up-to-date and accurate information.