Woodsfield, Ohio Property Taxes
The median property tax rate in Woodsfield, OH is 1.02%, slightly higher than the national median of 0.99% but significantly lower than Ohio's state median of 1.80%. With the median home value in Woodsfield at $71,715, the typical annual property tax bill amounts to $702, which is well below the national median of $2,690. Property taxes in Woodsfield are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Woodsfield'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 Woodsfield or another part of Monroe County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodsfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$731
$679
Ownwell’s Woodsfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodsfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodsfield 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 Woodsfield, Ohio
Property taxes in Woodsfield, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodsfield is 1.02%, which aligns closely with the Ohio state median and is slightly higher than the U.S. national median of 0.99%. Local government entities within Woodsfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodsfield 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 Woodsfield's effective property tax rate to other regions in Monroe County and the national median. For comparison, the zip code 43946 has the highest median property tax rate of 1.18%, while zip code 43793 has the lowest median tax rate of 1.02%. Understanding how these areas compare with Woodsfield provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodsfield Tax Rate
1.02%
Average Monroe County Tax Rate
1.01%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodsfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43793 | 0.71% | 1.00% | 1.02% | 1.07% | 1.12% |
| 43946 | 1.02% | 1.08% | 1.18% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Woodsfield, Ohio
In Woodsfield, 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 Monroe 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 Woodsfield, 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 Woodsfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $702 in zip code 43793, while the lowest median tax bill is $106 in zip code 43946.
Average Woodsfield Assessed Value
$71,715
Average Monroe County Assessed Value
$70,885
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodsfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43793 | $5,200 | $31,045 | $71,770 | $125,140 | $207,066 |
| 43946 | $3,752 | $5,690 | $8,920 | $19,315 | $25,552 |
Source: Ownwell
Property Tax Bills Across Woodsfield, Ohio
Property tax bills in Woodsfield, Monroe County, OH, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, and this figure is then multiplied by the tax rate to determine the annual tax bill. In Woodsfield, the median home price is $71,715, and the tax bills vary significantly across different percentiles. For instance, the 25th percentile tax bill is $308, while the 75th percentile tax bill is $1,184, and the 90th percentile tax bill reaches $1,936. The highest median tax bill in the area is $702, found in the 43793 zip code, whereas the lowest median tax bill is $106 in the 43946 zip code. These variations affect homeowners differently, with higher tax bills potentially impacting affordability and overall financial planning. Comparatively, the national median property tax rate stands at 0.99%, making local rates and individual tax bills a crucial consideration for property owners in Woodsfield.
Average Woodsfield Tax Bill
$702
Average Monroe County Tax Bill
$677
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodsfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43793 | $58 | $309 | $702 | $1,185 | $1,936 |
| 43946 | $44 | $67 | $106 | $198 | $253 |
Source: Ownwell