Williamstown, Ohio Property Taxes
The median property tax rate in Williamstown, OH is 1.33%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Williamstown at $105,700, the typical annual property tax bill reaches $1,423, falling below the national median of $2,690. Property taxes in Williamstown 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 Williamstown'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 Williamstown 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
Williamstown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$1,406
Ownwell’s Williamstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williamstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamstown 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 Williamstown, Ohio
Property taxes in Williamstown, Ohio, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamstown is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Williamstown set these rates annually, and they can vary across different neighborhoods. Each year, Williamstown 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 Williamstown's effective property tax rate to other areas in Hancock County and the national median. For comparison, the 45897 zip code has both the highest and lowest median property tax rate of 1.33%. Understanding how these areas compare with Williamstown provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Williamstown Tax Rate
1.33%
Average Hancock County Tax Rate
1.24%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Williamstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45897 | 0.96% | 1.32% | 1.33% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Williamstown, Ohio
In Williamstown, 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 Hancock 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 in Williamstown 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 Williamstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 45897, with a median tax bill of $1,423.
Average Williamstown Assessed Value
$105,700
Average Hancock County Assessed Value
$151,760
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Williamstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45897 | $9,710 | $37,055 | $105,700 | $184,025 | $278,628 |
Source: Ownwell
Property Tax Bills Across Williamstown, Ohio
In Williamstown, property tax bills are determined by assessing the value of a property and applying the local tax rate. The assessed value is typically a percentage of the property's market value, which is influenced by various factors such as location, property size, and market conditions. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in Williamstown, the median home price stands at $105,700. The property tax rate in Hancock County can result in a wide range of tax bills. For example, the 25th percentile tax bill is $489, while the 75th percentile tax bill is $2,084. The 90th percentile tax bill can go as high as $2,838. This variability can significantly impact homeowners, as those with higher-valued properties or properties in more desirable locations may face higher tax bills. Comparing these figures to the national median property tax rate of 0.99%, it's evident that property taxes in Williamstown can be relatively high, affecting the annual financial planning of homeowners.
Average Williamstown Tax Bill
$1,423
Average Hancock County Tax Bill
$1,839
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45897 | $131 | $489 | $1,423 | $2,084 | $2,838 |
Source: Ownwell