Willshire, Ohio Property Taxes
The median property tax rate in Willshire, OH is 1.59%, considerably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Willshire at $69,840, the typical annual property tax bill reaches $1,215, which is below the national median of $2,690. Property taxes in Willshire 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 Willshire'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 Willshire or another part of Van Wert County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Willshire, 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 Willshire Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Willshire with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Willshire to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. 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 Willshire, Ohio
Property taxes in Willshire, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Willshire is 1.59%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Willshire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Willshire 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 Willshire's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45898 has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Willshire provides valuable insights into the varying tax landscape across Van Wert County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Willshire Tax Rate
1.59%
Average Van Wert County Tax Rate
1.51%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Willshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45898 | 1.05% | 1.38% | 1.59% | 1.93% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Willshire, Ohio
In Willshire, 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 Van Wert 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 Willshire, 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 Willshire 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 region are both $1,215, found in the 45898 zip code.
Average Willshire Assessed Value
$69,840
Average Van Wert County Assessed Value
$87,060
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Willshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45898 | $28,065 | $47,858 | $69,840 | $109,200 | $227,941 |
Source: Ownwell
Property Tax Bills Across Willshire, Ohio
In Willshire, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by the Van Wert County assessor, who evaluates properties periodically to reflect their market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including the home's market value, any applicable exemptions, and the local tax rate. For instance, the median home price in Willshire is $69,840, which contributes to the calculation of the tax bill. Homeowners in Willshire can expect their property tax bills to vary. At the 25th percentile, tax bills are around $825, while at the 75th percentile, they rise to approximately $1,697. The highest tax bills, at the 90th percentile, can reach up to $2,799. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Willshire's property tax rates are reflective of the local economic environment and public service needs.
Average Willshire Tax Bill
$1,215
Average Van Wert County Tax Bill
$1,320
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Willshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45898 | $417 | $825 | $1,215 | $1,697 | $2,799 |
Source: Ownwell