Waterloo, Ohio Property Taxes
The median property tax rate in Waterloo, Ohio is 1.01%, slightly higher than the national median of 0.99% but significantly lower than the Ohio state median of 1.80%. With a median home value of $58,445, the typical annual property tax bill in Waterloo is approximately $600, which is well below the national median of $2,690. Property taxes in Waterloo are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Waterloo'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 Waterloo 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
Waterloo, 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 Waterloo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterloo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterloo 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 Waterloo, Ohio
Property taxes in Waterloo, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterloo is 1.14%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Waterloo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterloo 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 Waterloo's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45688 zip code has both the highest and lowest median property tax rate of 1.01%. Understanding how these cities compare with Waterloo provides valuable insights into the varying tax landscape across Gallia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waterloo Tax Rate
1.01%
Average Gallia County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterloo, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45688 | 0.57% | 0.58% | 1.01% | 1.03% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Waterloo, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Waterloo, 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 Gallia 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 Waterloo, 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. For example, the median home price in Waterloo is $58,445, with tax bills ranging from $376 at the 25th percentile to $1,034 at the 90th percentile. The zip code 45688 has both the highest and lowest median tax bill at $600. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waterloo Assessed Value
$58,445
Average Gallia County Assessed Value
$83,280
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waterloo, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45688 | $19,960 | $33,498 | $58,445 | $84,508 | $161,195 |
Source: Ownwell
Property Tax Bills Across Waterloo, Ohio
In Waterloo, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The assessed value is then multiplied by the local property tax rate, which in Gallia County is influenced by various factors including local government budgets and public service funding needs. For example, with a median home price of $58,445, homeowners can expect to pay a median property tax bill around $600 annually, which is significantly lower than the national median property tax rate of 0.99%. Property tax bills in Waterloo can vary widely. The 25th percentile tax bill is approximately $376, while those in the 75th percentile pay around $974. The highest tax bills, in the 90th percentile, reach up to $1,034. These variations are due to differences in property values and specific local tax levies. Understanding how these factors interplay can help homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Waterloo Tax Bill
$600
Average Gallia County Tax Bill
$1,068
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterloo, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45688 | $125 | $376 | $600 | $974 | $1,034 |
Source: Ownwell