Waterford, Ohio Property Taxes
The median property tax rate in Waterford, OH is 1.22%, slightly above the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $103,970 in Waterford, the typical annual property tax bill amounts to $1,153, which is below the national median of $2,690. Property taxes in Waterford are calculated based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Navigating Waterford's property tax system and leveraging available exemptions can result in significant annual savings. Whether you're in the heart of Waterford or elsewhere in Washington County, understanding the local property tax nuances is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Waterford, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$1,268
Ownwell’s Waterford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waterford with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Waterford to project your property tax bill. This valuable tool provides clarity on potential tax liabilities, helping you make informed financial decisions. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is determined by Washington County for tax purposes and may include applicable exemptions.
Property Tax Rates Across Waterford, Ohio
Property taxes in Waterford, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterford is 1.22%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Waterford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterford 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 Waterford's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45786 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Waterford provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waterford Tax Rate
1.22%
Average Washington County Tax Rate
1.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45786 | 0.91% | 1.18% | 1.22% | 1.24% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Waterford, Ohio
In Waterford, 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 Washington 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 Waterford, 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 instance, the median home price in Waterford is $103,970, with tax bills varying significantly. The 25th percentile tax bill is $309, while the 75th percentile tax bill is $2047, and the 90th percentile tax bill reaches $2912. The zip code with the highest and lowest median tax bill is 45786, both at $1154. 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 Waterford Assessed Value
$103,970
Average Washington County Assessed Value
$106,255
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waterford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45786 | $4,047 | $24,482 | $104,160 | $181,348 | $268,473 |
Source: Ownwell
Property Tax Bills Across Waterford, Ohio
In Waterford, Washington County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $103,970, homeowners can expect their property taxes to vary significantly. At the 25th percentile, tax bills are around $309, while at the 75th percentile, they can reach up to $2,047. For those in the 90th percentile, the tax bill can be as high as $2,912. These figures highlight the variation in tax burdens depending on the property's assessed value and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, Waterford's tax rates show a broad range, affecting homeowners differently based on their property's valuation and location within the county.
Average Waterford Tax Bill
$1,153
Average Washington County Tax Bill
$1,235
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45786 | $58 | $311 | $1,154 | $2,047 | $2,913 |
Source: Ownwell