Wellington, Ohio Property Taxes
The median property tax rate in Wellington, OH is 1.59%, 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 Wellington at $163,070, the typical annual property tax bill reaches $2,604, slightly below the national median of $2,690. Property taxes in Wellington 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 Wellington'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 Wellington 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
Wellington, 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 Wellington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellington 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 Wellington, Ohio
Property taxes in Wellington, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellington is 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wellington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellington 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 Wellington's effective property tax rate to other areas and the national median. For comparison, the 44090 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these areas compare with Wellington provides valuable insights into the varying tax landscape across Lorain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellington Tax Rate
1.59%
Average Lorain County Tax Rate
1.82%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44090 | 1.37% | 1.54% | 1.59% | 1.64% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Wellington, Ohio
In Wellington, 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 Lorain 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 Wellington, 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 Wellington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 44090 has both the highest and lowest median tax bills at $2,604, highlighting the importance of understanding local tax nuances.
Average Wellington Assessed Value
$163,070
Average Lorain County Assessed Value
$141,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44090 | $67,938 | $112,480 | $163,070 | $225,240 | $291,350 |
Source: Ownwell
Property Tax Bills Across Wellington, Ohio
In Wellington, OH, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, the median home price in Wellington is $163,070, and the property tax rate in Lorain County is comparable to the national median rate of 0.99%. Homeowners in Wellington can expect their tax bills to vary significantly, with the 25th percentile tax bill at $1,789 and the 75th percentile at $3,644. The highest tax bills, such as those in the 90th percentile, can reach up to $4,748. These variations are influenced by factors like property size, location, and improvements. Understanding these elements is crucial for homeowners as property taxes can significantly impact annual expenses. Properly estimating these costs helps in better financial planning and ensures that homeowners are prepared for their tax obligations.
Average Wellington Tax Bill
$2,604
Average Lorain County Tax Bill
$2,507
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44090 | $1,207 | $1,789 | $2,604 | $3,644 | $4,748 |
Source: Ownwell