Waverly, Ohio Property Taxes
The median property tax rate in Waverly, OH is 1.31%, 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 $63,990 in Waverly, the typical annual property tax bill amounts to $796, which is below the national median of $2,690. Property taxes in Waverly are based on the tax assessed value, often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Waverly'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 Waverly or another part of Ross County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waverly, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$838
$778
Ownwell’s Waverly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waverly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waverly 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 Waverly, Ohio
Property taxes in Waverly, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waverly is 1.31%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Waverly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waverly 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 Waverly's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45690 zip code has the highest median property tax rate of 1.31%, while the 45690 zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Waverly provides valuable insights into the varying tax landscape across Ross County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waverly Tax Rate
1.31%
Average Ross County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waverly, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45690 | 0.94% | 1.27% | 1.31% | 1.33% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Waverly, Ohio
In Waverly, 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 Ross 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 Waverly, 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 Waverly is $63,990, with tax bills ranging from $215 at the 25th percentile to $2,809 at the 90th percentile. The zip code 45690 consistently shows the highest and lowest median tax bill, both at $796. Being aware of these valuation processes in Waverly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waverly Assessed Value
$63,990
Average Ross County Assessed Value
$96,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waverly, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45690 | $3,036 | $16,320 | $63,990 | $133,110 | $219,142 |
Source: Ownwell
Property Tax Bills Across Waverly, Ohio
In Waverly, located in Ross 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 then multiplied by the local property tax rate to determine the tax bill. Factors that influence the assessed value include the market value of the property, any improvements or renovations, and the overall property conditions. For homeowners in Waverly, the median home price is $63,990. The property tax bills can vary significantly, with the 25th percentile at $215 and the 75th percentile at $1,689. The 90th percentile tax bill reaches up to $2,809. The highest and lowest median tax bills in the area are both reported at $796 in the 45690 zip code. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how local rates may impact homeowners. Higher property taxes can affect affordability and long-term financial planning, making it crucial for homeowners to stay informed about their property tax obligations.
Average Waverly Tax Bill
$796
Average Ross County Tax Bill
$1,236
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Waverly, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45690 | $50 | $215 | $796 | $1,689 | $2,809 |
Source: Ownwell