Waynesfield, Ohio Property Taxes
The median property tax rate in Waynesfield, OH is 1.62%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Waynesfield at $92,400, the typical annual property tax bill reaches $1,526, falling below the national median of $2,690. Property taxes in Waynesfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like 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, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$1,497
Ownwell’s Waynesfield Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to 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 provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is the value assigned by Hardin County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Waynesfield, 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 1.62%, significantly higher than 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 the highest median property tax rate of 1.62%, while the 45896 zip code also has the lowest median tax rate of 1.62%. Understanding how these areas compare with Waynesfield provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waynesfield Tax Rate
1.62%
Average Hardin County Tax Rate
1.61%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waynesfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45896 | 1.01% | 1.42% | 1.62% | 1.76% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Waynesfield, 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 Hardin 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. For example, the median home price in Waynesfield is $92,400. 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 Waynesfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,526, specifically in zip code 45896.
Average Waynesfield Assessed Value
$92,400
Average Hardin County Assessed Value
$82,480
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waynesfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45896 | $10,988 | $56,600 | $92,400 | $149,800 | $256,242 |
Source: Ownwell
Property Tax Bills Across Waynesfield, Ohio
In Waynesfield, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Waynesfield face a median property tax rate that is competitive compared to the national median of 0.99%. Several factors influence the tax bill, including the home's location, size, and any applicable exemptions. For instance, the median home price in Waynesfield is $92,400, and property tax bills can vary significantly. The tax bill at the 25th percentile is $996, while at the 75th percentile, it rises to $2,462. At the 90th percentile, homeowners could see tax bills as high as $3,642. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how their tax bill is calculated can help them budget more effectively and potentially seek exemptions or appeals if they believe their property has been over-assessed.
Average Waynesfield Tax Bill
$1,526
Average Hardin County Tax Bill
$1,448
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Waynesfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45896 | $590 | $996 | $1,526 | $2,462 | $3,642 |
Source: Ownwell