Waynesville, Ohio Property Taxes
The median property tax rate in Waynesville, OH is 1.56%, which is significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Waynesville at $244,930, the typical annual property tax bill amounts to $3,841, surpassing the national median of $2,690. Property taxes in Waynesville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Waynesville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Waynesville or another part of the city, getting a grasp on the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waynesville, 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 Waynesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waynesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waynesville 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 Waynesville, Ohio
Property taxes in Waynesville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waynesville is 1.56%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Waynesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waynesville 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 Waynesville's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45068 has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Waynesville provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waynesville Tax Rate
1.56%
Average Warren County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waynesville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45068 | 1.38% | 1.52% | 1.56% | 1.60% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Waynesville, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Waynesville, 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 Warren 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. Assessment notices in Waynesville 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. For instance, the highest median tax bill in Waynesville is $3,841 in the 45068 zip code, while the lowest median tax bill is also $3,841 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waynesville Assessed Value
$244,930
Average Warren County Assessed Value
$234,580
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waynesville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45068 | $124,170 | $174,850 | $244,930 | $368,540 | $533,824 |
Source: Ownwell
Property Tax Bills Across Waynesville, Ohio
In Waynesville, located in Warren County, OH, property tax bills are determined by a combination of the assessed value of your home and the local tax rate. The assessed value is typically a percentage of the property's market value, which is then multiplied by the tax rate set by local authorities. For homeowners in Waynesville, the median home price is $244,930. Factors such as the property's location within specific school districts or municipal boundaries can also influence the final tax bill. For instance, tax bills in the 25th percentile are around $2,671, while those in the 75th percentile can reach up to $5,759. At the 90th percentile, homeowners might see tax bills as high as $8,257. Compared to the national median property tax rate of 0.99%, Waynesville's rates can vary significantly, impacting homeowners differently based on their property's assessed value and location-specific factors. This variability means that understanding local tax regulations and assessments is crucial for accurate financial planning.
Average Waynesville Tax Bill
$3,841
Average Warren County Tax Bill
$3,873
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Waynesville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45068 | $1,903 | $2,671 | $3,841 | $5,759 | $8,257 |
Source: Ownwell