Williamstown, Ohio Property Taxes
The median property tax rate in Williamstown, OH is 1.63%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Williamstown, the typical annual property tax bill reaches $233, significantly lower than the national median of $2,690. Property taxes in Williamstown are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Williamstown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Williamstown or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Williamstown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$233
Ownwell’s Williamstown Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers an easy way to estimate their annual property taxes in Williamstown using just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Williamstown to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. For those interested in more detailed insights, additional localized information on neighborhood trends is available further down the page. Your property's assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Williamstown, Ohio
Property taxes in Williamstown, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamstown is 1.63%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Williamstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamstown 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 Williamstown's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45897 zip code has the same highest and lowest median property tax rate of 1.63%. Understanding how these cities compare with Williamstown provides valuable insights into the varying tax landscape across Butler County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Williamstown Tax Rate
1.63%
Average Butler County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williamstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45897 | 1.63% | 1.63% | 1.63% | 1.63% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Williamstown, Ohio
In Williamstown, 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 Butler 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 Williamstown, 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. The zip code with the highest median tax bill in Williamstown is 45897, with a median tax bill of $233. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Williamstown Assessed Value
$14,280
Average Butler County Assessed Value
$217,015
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Williamstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45897 | $14,280 | $14,280 | $14,280 | $14,280 | $14,280 |
Source: Ownwell
Property Tax Bills Across Williamstown, Ohio
In Williamstown, located in Butler County, OH, 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 Williamstown, the median home price is $14,280. Despite the relatively low home values, property taxes still represent a significant expense. The tax bill is calculated by applying the local tax rate to the assessed value of the property. Factors such as local government budgets, school funding needs, and public services influence the tax rate. In Williamstown, property tax bills are consistent, with the 25th, 75th, and 90th percentiles all having a tax bill of $233 annually. This uniformity suggests a stable tax environment for homeowners. Compared to the national median property tax rate of 0.99%, homeowners in Williamstown benefit from a predictable and manageable tax bill, which can be particularly advantageous for budgeting and financial planning.
Average Williamstown Tax Bill
$233
Average Butler County Tax Bill
$2,621
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45897 | $233 | $233 | $233 | $233 | $233 |
Source: Ownwell