Wellsville, Ohio Property Taxes
The median property tax rate in Wellsville, OH is 1.31%, 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 Wellsville at $69,300, the typical annual property tax bill reaches $948, which is below the national median of $2,690. Property taxes in Wellsville 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 Wellsville'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 Wellsville 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
Wellsville, 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 Wellsville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wellsville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Wellsville to provide an estimate of your property tax bill. This valuable tool offers insight into your potential tax liabilities, helping you plan your finances better. For those interested in more localized trends, more detailed neighborhood-level information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Wellsville, Ohio
Property taxes in Wellsville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellsville is 1.31%, which is higher than the U.S. national median of 0.99%. Local government entities within Wellsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellsville 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 Wellsville's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43968 has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these areas compare with Wellsville provides valuable insights into the varying tax landscape across Columbiana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellsville Tax Rate
1.31%
Average Columbiana County Tax Rate
1.27%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43968 | 0.92% | 1.14% | 1.31% | 1.65% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Wellsville, Ohio
In Wellsville, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Columbiana County Auditor 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 Wellsville, 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 Wellsville is $69,300, with tax bills ranging from $625 at the 25th percentile to $1,884 at the 90th percentile. The zip code 43968 has both the highest and lowest median tax bill at $948. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wellsville Assessed Value
$69,300
Average Columbiana County Assessed Value
$95,700
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43968 | $25,240 | $45,400 | $69,300 | $110,900 | $156,200 |
Source: Ownwell
Property Tax Bills Across Wellsville, Ohio
In Wellsville, located in Columbiana County, OH, property tax bills are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Wellsville averages around $69,300. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Wellsville, the median property tax bill is $948, which aligns with the highest and lowest median tax bills in the area, both recorded at $948. Factors influencing the tax bill include property size, location, and any applicable exemptions or deductions. Homeowners at the 25th percentile pay around $625, while those at the 75th percentile see bills closer to $1,358. At the 90th percentile, tax bills can reach up to $1,884. Compared to the national median property tax rate of 0.99%, Wellsville's property taxes can be considered moderate, impacting homeowners' annual expenses and potentially influencing decisions on property investments.
Average Wellsville Tax Bill
$948
Average Columbiana County Tax Bill
$1,157
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43968 | $290 | $625 | $948 | $1,358 | $1,884 |
Source: Ownwell