Wadsworth, Ohio Property Taxes
The median property tax rate in Wadsworth, OH is 1.81%, notably higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Wadsworth at $169,770, the typical annual property tax bill reaches $3,076, surpassing the national median of $2,690. Property taxes in Wadsworth are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wadsworth'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 Wadsworth 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
Wadsworth, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.81%
Estimate Property Tax Bill
$3,073
Ownwell’s Wadsworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wadsworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wadsworth 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 Wadsworth, Ohio
Property taxes in Wadsworth, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wadsworth is 1.81%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Wadsworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wadsworth 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 Wadsworth's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44281 zip code has the highest median property tax rate of 1.81%, while the 44281 zip code also has the lowest median tax rate of 1.81%. Understanding how these cities compare with Wadsworth provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wadsworth Tax Rate
1.81%
Average Wayne County Tax Rate
1.80%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wadsworth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44281 | 1.78% | 1.78% | 1.81% | 1.81% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Wadsworth, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wadsworth, 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 Wayne 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 Wadsworth, 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. The median home price in Wadsworth is $169,770, with tax bills ranging from $2,322 at the 25th percentile to $4,144 at the 75th percentile, and reaching up to $4,725 at the 90th percentile. The zip code 44281 has both the highest and lowest median tax bills at $3,076. Understanding these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wadsworth Assessed Value
$169,770
Average Wayne County Assessed Value
$144,025
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wadsworth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44281 | $67,004 | $130,460 | $169,770 | $229,330 | $264,742 |
Source: Ownwell
Property Tax Bills Across Wadsworth, Ohio
Property tax bills in Wadsworth, located in Wayne County, Ohio, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $169,770, the property tax rate in Wadsworth can be significant for homeowners. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. The 25th percentile tax bill in Wadsworth is $2,322, while the 75th percentile tax bill reaches $4,144, and the 90th percentile goes up to $4,725. These variations highlight how different properties can have substantially different tax liabilities. Compared to the national median property tax rate of 0.99%, Wadsworth's property taxes can be relatively high, affecting homeowners' budgets. Understanding these factors can help homeowners anticipate their annual expenses and plan accordingly.
Average Wadsworth Tax Bill
$3,076
Average Wayne County Tax Bill
$2,548
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wadsworth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44281 | $1,198 | $2,322 | $3,076 | $4,144 | $4,725 |
Source: Ownwell