Walbridge, Ohio Property Taxes
The median property tax rate in Walbridge, OH is 1.59%, which is notably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $133,800 in Walbridge, the typical annual property tax bill amounts to $2,095, falling below the national median of $2,690. Property taxes in Walbridge are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Walbridge'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 Walbridge or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walbridge, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$2,127
$1,974
Ownwell’s Walbridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walbridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walbridge 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 Walbridge, Ohio
Property taxes in Walbridge, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Walbridge is 1.59%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Walbridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walbridge 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 Walbridge's effective property tax rate to other areas in Ohio and the national median. For comparison, the 43465 zip code has the highest and lowest median property tax rate of 1.59%. Understanding how these areas compare with Walbridge provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walbridge Tax Rate
1.59%
Average Wood County Tax Rate
1.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walbridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43465 | 1.35% | 1.55% | 1.59% | 1.74% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Walbridge, Ohio
In Walbridge, 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 Wood 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 Walbridge, 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. Being aware of these valuation processes in Walbridge 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 $2,095, found in the 43465 zip code.
Average Walbridge Assessed Value
$133,800
Average Wood County Assessed Value
$163,900
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walbridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43465 | $10,500 | $85,550 | $133,800 | $194,050 | $257,760 |
Source: Ownwell
Property Tax Bills Across Walbridge, Ohio
In Walbridge, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the final tax amount, including the property's location within Wood County and any applicable exemptions or deductions. For instance, the median home price in Walbridge is $133,800, and the tax bills can vary significantly. Homeowners at the 25th percentile pay around $1,225, while those at the 75th percentile face a bill of approximately $3,277. At the 90th percentile, the tax bill can reach up to $4,508. These figures demonstrate the range of property tax liabilities that homeowners might encounter, depending on their property's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, Walbridge homeowners may find their tax rates competitive, but the actual amount paid can vary widely based on individual property assessments.
Average Walbridge Tax Bill
$2,095
Average Wood County Tax Bill
$2,615
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Walbridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43465 | $168 | $1,225 | $2,095 | $3,277 | $4,508 |
Source: Ownwell