Wren, Ohio Property Taxes
The median property tax rate in Wren, OH is 1.78%, which is considerably higher than the national median of 0.99% but slightly below Ohio's state median of 1.80%. With a median home value of $42,660 in Wren, the typical annual property tax bill is $766, significantly lower than the national median of $2,690. Property taxes in Wren are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Wren's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wren 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
Wren, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$759
$705
Ownwell’s Wren Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wren with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wren 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 Wren, Ohio
Property taxes in Wren, Ohio, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Wren is 1.78%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Wren set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wren 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 Wren's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45899 zip code in Van Wert County has the highest median property tax rate of 1.78%, which is also the lowest median tax rate in the same zip code. Understanding how these cities compare with Wren 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 Wren Tax Rate
1.78%
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 Wren, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45899 | 1.25% | 1.68% | 1.78% | 1.89% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Wren, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wren, Ohio. 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 Wren, 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 Wren helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 45899 has the highest and lowest median tax bill, both at $766, offering a unique insight into the property tax landscape in this area.
Average Wren Assessed Value
$42,660
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 Wren, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45899 | $16,244 | $31,910 | $42,660 | $55,000 | $73,178 |
Source: Ownwell
Property Tax Bills Across Wren, Ohio
In Wren, located in Van Wert County, OH, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the county assessor and is often a percentage of the market value. Homeowners in Wren can expect their property tax bills to vary significantly. For instance, the tax bill for the 25th percentile is around $483, while the 75th percentile sees bills around $959, and the 90th percentile reaches up to $1140. These variations are influenced by factors such as property location, size, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Wren's property tax rates can be seen as relatively moderate. However, the impact on homeowners can still be substantial, affecting their annual budgeting and overall financial planning. Ensuring that properties are correctly assessed and taking advantage of any available exemptions can help homeowners manage their tax liabilities more effectively.
Average Wren Tax Bill
$766
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 Wren, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45899 | $274 | $483 | $766 | $959 | $1,140 |
Source: Ownwell