Winchester, Ohio Property Taxes
The median property tax rate in Winchester, OH is 1.10%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $128,200 in Winchester, the typical annual property tax bill amounts to $1,194, falling below the national median of $2,690. Property taxes in Winchester are determined based on the assessed value, which is usually less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Winchester'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 Winchester or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Winchester, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,410
$1,309
Ownwell’s Winchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winchester 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 Winchester, Ohio
Property taxes in Winchester, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winchester is 1.10%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Winchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winchester 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 Winchester's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45697 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Winchester provides valuable insights into the varying tax landscape across Highland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Winchester Tax Rate
1.10%
Average Highland County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winchester, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45697 | 0.51% | 0.82% | 1.10% | 1.13% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Winchester, Ohio
In Winchester, 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 Highland 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 Winchester, 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 Winchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 45697, with a median tax bill of $1194.
Average Winchester Assessed Value
$128,200
Average Highland County Assessed Value
$82,400
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Winchester, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45697 | $17,610 | $49,300 | $128,200 | $205,725 | $358,250 |
Source: Ownwell
Property Tax Bills Across Winchester, Ohio
In Winchester, located in Highland County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Several factors influence this valuation, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Homeowners in Winchester experience a range in property tax bills. For instance, the 25th percentile tax bill stands at $460, while the 75th percentile reaches $1,825, and the 90th percentile can go up to $2,630. Compared to the national median property tax rate of 0.99%, these figures illustrate the variability in tax burdens within the area. This variability can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax obligations accurately.
Average Winchester Tax Bill
$1,194
Average Highland County Tax Bill
$971
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Winchester, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45697 | $170 | $460 | $1,194 | $1,825 | $2,630 |
Source: Ownwell