Wharton, Ohio Property Taxes
The median property tax rate in Wharton, Ohio is 1.20%, which is higher than the national median of 0.99%, yet lower than the Ohio state median of 1.80%. With the median home value in Wharton at $73,315, the typical annual property tax bill is approximately $806, falling below the national median of $2,690. Property taxes in Wharton are calculated based on the tax assessed value, which is typically lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Wharton’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 Wharton 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
Wharton, 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 Wharton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wharton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wharton 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 Wharton, Ohio
Property taxes in Wharton, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wharton is 1.20%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Wharton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wharton 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 Wharton's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43359 zip code has both the highest and lowest median property tax rate of 1.20%. Understanding how these areas compare with Wharton provides valuable insights into the varying tax landscape across Wyandot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wharton Tax Rate
1.20%
Average Wyandot County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wharton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43359 | 0.70% | 0.96% | 1.20% | 1.25% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Wharton, Ohio
In Wharton, 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 Wyandot 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. 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 Wharton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Wharton is $73,315, with the highest median tax bill being $806 in zip code 43359.
Average Wharton Assessed Value
$73,315
Average Wyandot County Assessed Value
$93,115
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wharton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43359 | $16,074 | $44,858 | $73,315 | $132,062 | $225,146 |
Source: Ownwell
Property Tax Bills Across Wharton, Ohio
In Wharton, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the Wyandot County Assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $73,315, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Several factors influence the tax bill, including property location, improvements, and market conditions. Homeowners in Wharton experience tax bills ranging from the 25th percentile at $520 to the 75th percentile at $1327, with the 90th percentile reaching up to $2099. These figures indicate a significant range, reflecting differences in property values and individual assessments. Compared to the national median property tax rate of 0.99%, Wharton's property tax rates can significantly impact homeowners' annual financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Wharton Tax Bill
$806
Average Wyandot County Tax Bill
$1,190
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Wharton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43359 | $184 | $520 | $806 | $1,327 | $2,099 |
Source: Ownwell