Wilmington, Ohio Property Taxes
The median property tax rate in Wilmington, OH is 1.48%, which is 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 Wilmington at $121,050, the typical annual property tax bill reaches $1,850, below the national median of $2,690. Property taxes in Wilmington 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 Wilmington'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 Wilmington 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
Wilmington, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Wilmington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilmington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilmington 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 Wilmington, Ohio
Property taxes in Wilmington, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilmington is 1.48%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Wilmington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilmington 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 Wilmington's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45177 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Wilmington provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wilmington Tax Rate
1.48%
Average Clinton County Tax Rate
1.56%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilmington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45177 | 1.20% | 1.33% | 1.48% | 1.67% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Wilmington, Ohio
In Wilmington, 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 Clinton 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 Wilmington, 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 Wilmington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 45177, with a median tax bill of $1,850.
Average Wilmington Assessed Value
$121,050
Average Clinton County Assessed Value
$106,220
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wilmington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45177 | $44,466 | $80,210 | $121,050 | $188,330 | $263,896 |
Source: Ownwell
Property Tax Bills Across Wilmington, Ohio
In Wilmington, located in Clinton County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For instance, the median home price in Wilmington is $121,050, and property tax bills can range significantly. Homeowners in the 25th percentile can expect to pay around $1,238, while those in the 75th percentile may see bills as high as $2,701. The top 10% of homeowners face even higher taxes, with bills reaching up to $3,731. These tax bills are influenced by various factors, including the property's location, its market value, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Wilmington's rates can vary, impacting homeowners differently based on their property's assessed value. Understanding these factors is crucial for homeowners to manage their financial obligations effectively.
Average Wilmington Tax Bill
$1,850
Average Clinton County Tax Bill
$1,728
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilmington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45177 | $753 | $1,238 | $1,850 | $2,701 | $3,731 |
Source: Ownwell