Waldo, Marion County, Ohio Property Taxes
The median property tax rate in Waldo, Ohio is 1.35%, higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $175,540 in Waldo, the typical annual property tax bill amounts to $2,459, which is below the national median of $2,690. Property taxes in Waldo are based on the tax assessed value, generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Waldo'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 Waldo or another part of Marion County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waldo, Marion County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$2,370
$2,199
Ownwell’s WALDO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WALDO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WALDO 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 Waldo, Marion County, Ohio
Property taxes in Waldo, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waldo is 1.35%, significantly higher than the U.S. national median of 0.99%. Local government entities within Waldo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waldo 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 Waldo's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43356 has both the highest and lowest median property tax rate of 1.35%. Understanding how these cities compare with Waldo provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waldo Tax Rate
1.35%
Average Marion County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waldo, Marion County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43356 | 1.14% | 1.29% | 1.35% | 1.49% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Waldo, Marion County, Ohio
In Waldo, 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 Marion 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 Waldo, 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 median home price in Waldo is $175,540, with tax bills ranging from $1,631 at the 25th percentile to $4,836 at the 90th percentile. The zip code 43356 has the highest and lowest median tax bill, both at $2,459. 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 Waldo, Marion County, Ohio
Source: Ownwell
$90,060
$149,260
$208,460
Average Waldo Assessed Value
$175,540
Average Marion County Assessed Value
$101,515
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waldo, Marion County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43356 | $85,370 | $114,695 | $175,540 | $275,800 | $363,030 |
Source: Ownwell
Property Tax Bills Across Waldo, Marion County, Ohio
In Waldo, located in Marion County, OH, property tax bills are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. For instance, the median home price in Waldo is $175,540. Homeowners at the 25th percentile pay around $1,631 annually, while those at the 75th percentile see bills as high as $3,732, and the 90th percentile reaches $4,836. These property taxes fund essential public services such as schools, infrastructure, and emergency services. With the national median property tax rate at 0.99%, homeowners in Waldo experience varying tax burdens based on their property's assessed value and specific local rates, impacting their overall cost of homeownership. This can significantly influence financial planning and budgeting for residents.
Average Waldo Tax Bill
$2,459
Average Marion County Tax Bill
$1,434
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Waldo, Marion County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43356 | $1,171 | $1,631 | $2,459 | $3,732 | $4,836 |
Source: Ownwell