Wickliffe, Ohio Property Taxes
The median property tax rate in Wickliffe, OH is 1.73%, which is significantly higher than the national median of 0.99% yet slightly lower than the Ohio state median of 1.80%. With the median home value in Wickliffe at $32,400, the typical annual property tax bill amounts to $559, noticeably less than the national median of $2,690. Property taxes in Wickliffe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Wickliffe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wickliffe 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
Wickliffe, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$561
Ownwell’s Wickliffe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wickliffe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wickliffe 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 Wickliffe, Ohio
Property taxes in Wickliffe, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wickliffe is 1.73%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Wickliffe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wickliffe 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 Wickliffe's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44092 zip code has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Wickliffe provides valuable insights into the varying tax landscape across Ashtabula County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wickliffe Tax Rate
1.73%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wickliffe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44092 | 1.73% | 1.73% | 1.73% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Wickliffe, Ohio
In Wickliffe, 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 Ashtabula 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 Wickliffe, 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. 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 Wickliffe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 44092 has both the highest and lowest median tax bill at $559.00, highlighting the uniformity in property tax assessments within the area.
Average Wickliffe Assessed Value
$32,400
Average Ashtabula County Assessed Value
$74,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wickliffe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44092 | $32,400 | $32,400 | $32,400 | $32,400 | $32,400 |
Source: Ownwell
Property Tax Bills Across Wickliffe, Ohio
In Wickliffe, located in Ashtabula County, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor’s office. This assessed value is a percentage of the property's market value. For homeowners in Wickliffe, the median home price is $32,400. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Wickliffe, the median property tax bill is $559, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax bill can be beneficial for homeowners, as it reduces the overall cost of owning a home in this area. However, it is essential for homeowners to stay informed about any changes in property assessments or tax rates, as these can impact their annual tax obligations.
Average Wickliffe Tax Bill
$559
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wickliffe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44092 | $559 | $559 | $559 | $559 | $559 |
Source: Ownwell