Wolf Run, Ohio Property Taxes
The median property tax rate in Wolf Run, OH is 2.14%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Wolf Run, the typical annual property tax bill reaches $520, which is below the national median of $2,690. Property taxes in Wolf Run 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 Wolf Run'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 Wolf Run 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
Wolf Run, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.14%
Estimate Property Tax Bill
$521
Ownwell’s Wolf Run Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Wolf Run with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wolf Run 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 Wolf Run, Ohio
Property taxes in Wolf Run, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wolf Run is 2.14%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Wolf Run set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wolf Run 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 Wolf Run's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43970 has the highest median property tax rate of 2.14%, while the same zip code also has the lowest median tax rate of 2.14%. Understanding how these cities compare with Wolf Run provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wolf Run Tax Rate
2.14%
Average Jefferson County Tax Rate
2.19%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wolf Run, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43970 | 2.14% | 2.14% | 2.14% | 2.14% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Wolf Run, Ohio
In Wolf Run, 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 Jefferson 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. 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. For instance, in Wolf Run, the median home price is $24,330, and the median tax bill is $520. Notably, the highest and lowest median tax bills are both $520 in the 43970 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wolf Run Assessed Value
$24,330
Average Jefferson County Assessed Value
$67,215
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wolf Run, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43970 | $24,330 | $24,330 | $24,330 | $24,330 | $24,330 |
Source: Ownwell
Property Tax Bills Across Wolf Run, Ohio
In Wolf Run, Jefferson County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. In this region, the median home price is $24,330. The tax rate is then applied to this assessed value to calculate the annual property tax bill. For homeowners in Wolf Run, the property tax bills are relatively consistent, with the 25th, 75th, and 90th percentiles all seeing a tax bill of $520. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value, thereby affecting the tax bill. The uniformity in tax bills suggests a stable property market in this area. Compared to the national median property tax rate of 0.99%, homeowners in Wolf Run experience a more predictable and manageable tax burden. This stability can be beneficial for long-term financial planning and homeownership sustainability.
Average Wolf Run Tax Bill
$520
Average Jefferson County Tax Bill
$1,517
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wolf Run, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43970 | $520 | $520 | $520 | $520 | $520 |
Source: Ownwell