Wellston, Ohio Property Taxes
The median property tax rate in Wellston, OH is 1.66%, 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 Wellston at $53,485, the typical annual property tax bill reaches $843, which is below the national median of $2,690. Property taxes in Wellston 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 Wellston'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 Wellston 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
Wellston, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.66%
Estimate Property Tax Bill
$888
$824
Ownwell’s Wellston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellston 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 Wellston, Ohio
Property taxes in Wellston, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellston is 1.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wellston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellston 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 Wellston's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45692 has the highest median property tax rate of 1.66%, while the same zip code also has the lowest median tax rate of 1.66%. Understanding how these areas compare with Wellston provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellston Tax Rate
1.66%
Average Jackson County Tax Rate
1.66%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45692 | 1.34% | 1.37% | 1.66% | 1.66% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Wellston, Ohio
In Wellston, 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 Jackson 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 Wellston, 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 Wellston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $843, found in the 45692 zip code.
Average Wellston Assessed Value
$53,485
Average Jackson County Assessed Value
$67,520
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45692 | $10,950 | $26,605 | $53,485 | $81,600 | $126,666 |
Source: Ownwell
Property Tax Bills Across Wellston, Ohio
In Wellston, located in Jackson County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $53,485, the assessed value forms the basis for tax calculations. The local property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the local tax rate and any applicable exemptions or deductions. Homeowners in Wellston might find their tax bills ranging widely, with the 25th percentile at $408 and the 75th percentile reaching $1,276. At the higher end, the 90th percentile tax bill can go up to $1,887. Comparatively, the national median property tax rate stands at 0.99%, which provides context for understanding local rates. These property taxes directly impact homeowners by contributing to essential community services such as schools, public safety, and infrastructure, thereby affecting the overall quality of life in Wellston.
Average Wellston Tax Bill
$843
Average Jackson County Tax Bill
$1,087
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45692 | $168 | $408 | $843 | $1,276 | $1,887 |
Source: Ownwell