Waynesfield, Allen County, Ohio Property Taxes
The median property tax rate in Waynesfield, OH is 1.34%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $155,900 in Waynesfield, the typical annual property tax bill amounts to $2,088, which is below the national median of $2,690. Property taxes in Waynesfield are calculated based on the assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Waynesfield'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 Waynesfield 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
Waynesfield, Allen County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$2,089
$1,939
Ownwell’s Waynesfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waynesfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waynesfield 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 Waynesfield, Allen County, Ohio
Property taxes in Waynesfield, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waynesfield is 1.34%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Waynesfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waynesfield 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 Waynesfield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45896 zip code has both the highest and lowest median property tax rate of 1.34%. Understanding how these cities compare with Waynesfield provides valuable insights into the varying tax landscape across Allen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waynesfield Tax Rate
1.34%
Average Allen County Tax Rate
1.57%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waynesfield, Allen County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45896 | 1.15% | 1.33% | 1.34% | 1.38% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Waynesfield, Allen County, Ohio
In Waynesfield, 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 Allen 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 Waynesfield, 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. The zip code with the highest median tax bill in Waynesfield is 45896, with a bill of $2,088. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Waynesfield, Allen County, Ohio
Source: Ownwell
$35,400
$115,575
$195,750
Average Waynesfield Assessed Value
$155,900
Average Allen County Assessed Value
$103,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waynesfield, Allen County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45896 | $73,060 | $102,500 | $155,900 | $212,600 | $258,200 |
Source: Ownwell
Property Tax Bills Across Waynesfield, Allen County, Ohio
In Waynesfield, OH, property tax bills are calculated based on the assessed value of the property, which is determined by the Allen County auditor. The assessed value is typically a percentage of the market value of the home. The tax rate is then applied to this assessed value to calculate the tax bill. Homeowners in Waynesfield can expect to pay a median property tax rate that aligns with the county's standards. Several factors influence the property tax bill, including the property's location, size, and any improvements made. For instance, the 25th percentile tax bill is around $1,361, while the 75th percentile reaches $2,766, and the 90th percentile can go up to $3,506. This range indicates the variability in tax bills due to differing property values and assessments. Compared to the national median property tax rate of 0.99%, homeowners in Waynesfield may find their tax bills to be relatively moderate, affecting their overall financial planning and homeownership costs.
Average Waynesfield Tax Bill
$2,088
Average Allen County Tax Bill
$1,550
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Waynesfield, Allen County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45896 | $968 | $1,361 | $2,088 | $2,766 | $3,506 |
Source: Ownwell