West Millgrove, Ohio Property Taxes
The median property tax rate in West Millgrove, OH is 1.61%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $23,100 in West Millgrove, the typical annual property tax bill amounts to $376, significantly below the national median of $2,690. Property taxes in West Millgrove are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding West Millgrove'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 West Millgrove 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
West Millgrove, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$372
$345
Ownwell’s WEST MILLGROVE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WEST MILLGROVE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WEST MILLGROVE 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 West Millgrove, Ohio
Property taxes in West Millgrove, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Millgrove is 1.61%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within West Millgrove set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Millgrove 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 West Millgrove's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43467 ZIP code has the highest median property tax rate of 1.61%, while it also has the lowest median tax rate of 1.61%. Understanding how these cities compare with West Millgrove provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Millgrove Tax Rate
1.61%
Average Wood County Tax Rate
1.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Millgrove, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43467 | 1.58% | 1.58% | 1.61% | 1.63% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across West Millgrove, Ohio
In West Millgrove, 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 Wood 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 West Millgrove, 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 West Millgrove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $376.00 in the 43467 zip code.
Average West Millgrove Assessed Value
$23,100
Average Wood County Assessed Value
$163,900
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Millgrove, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43467 | $1,390 | $6,850 | $23,100 | $70,750 | $89,850 |
Source: Ownwell
Property Tax Bills Across West Millgrove, Ohio
In West Millgrove, located in Wood County, OH, 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 assessor and is a percentage of the property's market value. For homeowners, this means that the higher the market value of their property, the higher their assessed value and, consequently, their property tax bill. The tax rate in West Millgrove is applied to the assessed value to determine the annual tax bill. Factors such as local government budgets, school funding needs, and public services influence the tax rate. For example, with a median home price of $23,100, homeowners can expect to pay a tax bill ranging from $109 at the 25th percentile to $1,624 at the 90th percentile. Compared to the national median property tax rate of 0.99%, homeowners in West Millgrove experience varying tax bills depending on their property's assessed value. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners differently based on their property’s worth.
Average West Millgrove Tax Bill
$376
Average Wood County Tax Bill
$2,615
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across West Millgrove, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43467 | $22 | $109 | $376 | $1,206 | $1,624 |
Source: Ownwell