Wooster, Ohio Property Taxes
The median property tax rate in Wooster, OH is 1.40%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $142,010, the typical annual property tax bill in Wooster is around $1,786, which is below the national median of $2,690. Property taxes in Wooster are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Wooster's property tax system, exploring exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wooster or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wooster, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$1,988
Ownwell’s Wooster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wooster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wooster to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wooster, Ohio
Property taxes in Wooster, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wooster is 1.40%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Wooster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wooster estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Wooster's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44691 zip code has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Wooster provides valuable insights into the varying tax landscape across Ashland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wooster Tax Rate
1.40%
Average Ashland County Tax Rate
1.52%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wooster, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44691 | 1.08% | 1.24% | 1.40% | 1.43% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Wooster, Ohio
In Wooster, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Ashland County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Wooster, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in Wooster is $142,010, with property tax bills ranging from $1,467 at the 25th percentile to $3,421 at the 75th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Wooster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wooster Assessed Value
$142,010
Average Ashland County Assessed Value
$108,690
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wooster, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44691 | $87,540 | $116,758 | $142,010 | $227,890 | $268,450 |
Source: Ownwell
Property Tax Bills Across Wooster, Ohio
In Wooster, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For homeowners in Wooster, the median home price stands at $142,010. Property tax rates in this area can vary, but the median tax bill is around $1,786, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the tax bill for properties in the 25th percentile is approximately $1,467, while those in the 75th percentile can expect to pay around $3,421. Homeowners at the 90th percentile face tax bills nearing $3,541. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community.
Average Wooster Tax Bill
$1,786
Average Ashland County Tax Bill
$1,522
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wooster, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44691 | $1,064 | $1,467 | $1,786 | $3,421 | $3,541 |
Source: Ownwell