Wilmot, Ohio Property Taxes
The median property tax rate in Wilmot, OH is 1.44%, which is considerably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Wilmot at $81,900, the typical annual property tax bill reaches $285, which is significantly below the national median of $2,690. Property taxes in Wilmot 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 Wilmot'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 Wilmot or another part of Stark County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wilmot, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$1,179
Ownwell’s Wilmot Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilmot with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilmot 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 Wilmot, Ohio
Property taxes in Wilmot, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilmot is 1.44%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Wilmot set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilmot 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 Wilmot's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44689 zip code has both the highest and lowest median property tax rate of 1.44%. Understanding how these cities compare with Wilmot provides valuable insights into the varying tax landscape across Stark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wilmot Tax Rate
1.44%
Average Stark County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilmot, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44689 | 0.76% | 0.88% | 1.44% | 1.63% | 3.23% |
Source: Ownwell
Property Tax Assessment Values Across Wilmot, Ohio
In Wilmot, 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 Stark 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 Wilmot, 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, the median home price in Wilmot is $81,900, with tax bills ranging from $152 at the 25th percentile to $1,568 at the 90th percentile. The zip code 44689 has both the highest and lowest median tax bill at $285. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wilmot Assessed Value
$81,900
Average Stark County Assessed Value
$128,500
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wilmot, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44689 | $14,200 | $40,650 | $81,900 | $120,675 | $167,900 |
Source: Ownwell
Property Tax Bills Across Wilmot, Ohio
In Wilmot, located in Stark County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor and typically represents a percentage of the property's market value. Homeowners in Wilmot can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $152, while the 75th percentile can reach up to $736. At the 90th percentile, tax bills can soar to $1,568. The median home price in Wilmot is $81,900, which is relatively modest compared to national averages. This impacts the overall property tax burden, making it more manageable for many residents. However, individual tax bills can fluctuate based on factors such as property improvements, neighborhood developments, and changes in local tax rates. For homeowners, understanding these elements is crucial as they directly influence annual tax obligations and overall financial planning.
Average Wilmot Tax Bill
$285
Average Stark County Tax Bill
$801
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilmot, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44689 | $14 | $152 | $285 | $736 | $1,568 |
Source: Ownwell