Willshire, Ohio Property Taxes
The median property tax rate in Willshire, OH is 1.44%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $123,900 in Willshire, the typical annual property tax bill amounts to $1,780, falling below the national median of $2,690. Property taxes in Willshire are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Willshire'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 Willshire 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
Willshire, 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 Willshire Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Willshire with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Willshire 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 Willshire, Ohio
Property taxes in Willshire, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Willshire is 1.44%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Willshire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willshire 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 Willshire's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45898 zip code has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Willshire provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Willshire Tax Rate
1.44%
Average Mercer County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Willshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45898 | 1.43% | 1.43% | 1.44% | 1.46% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Willshire, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Willshire, Ohio. 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 Mercer 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 Willshire, 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 Willshire helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Willshire are both $1780, found in the 45898 zip code.
Average Willshire Assessed Value
$123,900
Average Mercer County Assessed Value
$129,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Willshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45898 | $23,640 | $83,350 | $123,900 | $154,400 | $204,880 |
Source: Ownwell
Property Tax Bills Across Willshire, Ohio
In Willshire, property tax bills are determined by the assessed value of a home, which is then multiplied by the local tax rate. This assessed value is based on a percentage of the property's market value, reflecting its worth in the current real estate market. For instance, the median home price in Willshire is $123,900. Homeowners in the 25th percentile pay around $1,195 annually, while those in the 75th percentile see bills closer to $2,168. The top 10% of homeowners face tax bills as high as $2,935. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Willshire's rates can be seen as relatively moderate, offering a balance between affordability and the provision of public services. Homeowners must stay informed about their property’s assessed value and any changes in local tax rates to manage their financial planning effectively.
Average Willshire Tax Bill
$1,780
Average Mercer County Tax Bill
$1,932
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Willshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45898 | $440 | $1,195 | $1,780 | $2,168 | $2,935 |
Source: Ownwell