Millbury, Wood County, Ohio Property Taxes
Median Millbury, Ohio effective property tax rate: 1.64%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Millbury, Ohio home value: $139,100
Median annual Millbury, Ohio tax bill: $2,251, $149 lower than the national median property tax bill of $2,400.
How are property taxes in Wood County calculated?
Property taxes in Millbury, Ohio are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Millbury’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Millbury, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Millbury, Wood County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.64%
Estimate Property Tax Bill
$2,281
$2,117
Property Tax Rates Across Millbury, Wood County, Ohio
Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget annually to provide services and dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Millbury, located in Wood County, Ohio, the effective property tax rate is a significant point of interest. The median property tax rate here is 1.64%, which is notably higher than the national median of 1.02%. This rate places Millbury among the higher property tax areas in Ohio. Property owners in Millbury might find the tax rate to be a considerable expense compared to the national median property tax bill of $2400. Understanding these differences is crucial for property owners, as higher property taxes can impact overall affordability and investment decisions. Comparing Millbury’s tax rate to those of other cities in Ohio and the national median provides valuable insights for residents and prospective property buyers in the area.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Millbury Tax Rate
1.64%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wood County Tax Rate
1.62%
Median Effective Ohio Tax Rate
1.80%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Millbury, Wood County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43447 | 1.42% | 1.60% | 1.64% | 1.77% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Millbury, Wood County, Ohio
When examining property taxes in Millbury, Ohio, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wood County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Wood County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Millbury.
For example, the median home price in Millbury is $139,100, with tax bills ranging significantly across the county. Zip code 43447 has the highest median home price at $139,100.
Property Tax Assessment Values Across Millbury, Wood County, Ohio
Source: Ownwell
$14,750
$135,175
$255,600
Median Millbury Market Value
$139,100
Median Wood County Market Value
$163,900
Median Ohio Market Value
$133,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Millbury, Wood County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43447 | $8,200 | $17,600 | $139,100 | $199,500 | $242,620 |
Source: Ownwell
Property Tax Bills Across Millbury, Wood County, Ohio
In Millbury, OH, located in Wood County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as the home's location, size, and any improvements can influence the assessed value. Millbury homeowners face a median tax bill of $2,251, which is slightly below the national median of $2,400. However, tax bills can vary significantly, with some paying as low as $300 or as high as $4,146, depending on the property's specifics and the neighborhood.
For homeowners looking to reduce their property tax burden, Ownwell offers professional property tax appeal services. By analyzing your property’s assessment and comparing it with similar properties, Ownwell identifies potential discrepancies and opportunities for tax savings. Their expertise in navigating the appeals process can lead to significant reductions in your tax bill, ensuring you only pay your fair share. Trust Ownwell to help you save on your property taxes and keep more money in your pocket.
Median Millbury Tax Bill
$2,251
Median Wood County Tax Bill
$2,615
Median Ohio Tax Bill
$2,396
Median United States Tax Bill
$2,400
Property Tax Bills Across Millbury, Wood County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43447 | $134 | $300 | $2,251 | $3,275 | $4,146 |
Source: Ownwell