Westerville City, Ohio Property Taxes
The median property tax rate in Westerville City, OH is 2.61%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Westerville City, the typical annual property tax bill reaches $73, which is far below the national median of $2,690. Property taxes in Westerville City are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Westerville City'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 Westerville City 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
Westerville City, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$73
Ownwell’s Westerville City Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Westerville City with just two data points. Simply input your property's estimated assessed value, and the calculator will apply the median tax rate in Westerville City to provide an estimate of your property tax bill. This valuable tool helps you comprehend potential tax liabilities and plan accordingly. For those interested in neighborhood-specific trends, additional localized information is available below. Your property's assessed value is determined by Franklin County for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Westerville City, Ohio
Property taxes in Westerville City, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westerville City is 2.61%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Westerville City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westerville City 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 Westerville City's effective property tax rate to other areas in Ohio and the national median. For comparison, the highest median property tax rate in Franklin County is 2.61%, while the lowest median tax rate is significantly lower. Understanding how these cities compare with Westerville City provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Westerville City Tax Rate
2.61%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westerville City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Westerville City, Ohio
In Westerville City, 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 Franklin County Auditor 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 Westerville City, 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 Westerville City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Westerville City Assessed Value
$2,800
Average Franklin County Assessed Value
$168,000
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Westerville City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Westerville City, Ohio
In Westerville City, located in Franklin County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Factors such as the property's size, location, and condition play a significant role in determining this market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Franklin County, the median home price is relatively low at $2,800, resulting in tax bills that are quite modest. For instance, homeowners in the 25th, 75th, and 90th percentiles all see tax bills of $73. This low tax burden can be a relief for homeowners, especially when compared to the national median property tax rate of 0.99%. Lower property taxes can make homeownership more affordable, allowing residents to allocate more of their budget toward other living expenses or home improvements.
Average Westerville City Tax Bill
$73
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Westerville City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell