Wellston, Ohio Property Taxes
The median property tax rate in Wellston, OH is 1.15%, which is 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 $87,090, the typical annual property tax bill is around $825, significantly below the national median of $2,690. Property taxes in Wellston are based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. 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
1.15%
Estimate Property Tax Bill
$1,002
$929
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 essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellston is 1.15%, which is higher than both the Ohio state median and 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 counties in Ohio and the national median. For comparison, the 45692 zip code has the highest median property tax rate of 1.15%, while the 45692 zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Wellston provides valuable insights into the varying tax landscape across Vinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellston Tax Rate
1.15%
Average Vinton County Tax Rate
1.27%
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 | 0.42% | 0.63% | 1.15% | 1.27% | 1.33% |
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 Vinton 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. Notably, the highest and lowest median tax bills in the area are both $825, found in zip code 45692.
Average Wellston Assessed Value
$87,090
Average Vinton County Assessed Value
$50,680
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 | $8,470 | $40,782 | $87,090 | $131,250 | $154,119 |
Source: Ownwell
Property Tax Bills Across Wellston, Ohio
In Wellston, Ohio, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county and typically represents a percentage of the market value of the home. For instance, in Vinton County, where Wellston is located, homeowners can expect a median property tax bill of around $825. This is significantly lower than the national median property tax rate of 0.99%, making Wellston an affordable place for property owners. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in the 25th percentile pay approximately $188, while those in the 75th percentile pay about $1,522. At the 90th percentile, the tax bill can reach up to $2,414. These variations highlight how different factors contribute to the overall property tax burden. Understanding these elements can help homeowners better anticipate their tax liabilities and plan their finances accordingly.
Average Wellston Tax Bill
$825
Average Vinton County Tax Bill
$541
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 | $112 | $188 | $825 | $1,522 | $2,414 |
Source: Ownwell