Buying a home in Westerville comes with one big question: what will your property taxes do to your monthly budget? It can feel confusing, especially when you hear about mills, levies, and escrow. This guide breaks down how Franklin County calculates property taxes, where to find the exact numbers for any Westerville address, and how to estimate the monthly impact. You will leave with a simple checklist and a clear example you can follow for any home. Let’s dive in.
How Franklin County property taxes work
Key terms to know
- Market or appraised value: The county auditor’s estimate of a property’s market value.
- Assessed value: The value taxes are based on. In Ohio, residential real property has historically been assessed at 35 percent of appraised value. Confirm the current percentage on the Franklin County Auditor site.
- Millage: The sum of all local tax rates for your parcel, expressed in mills.
- Effective tax rate: Annual tax divided by market value. This helps you compare areas quickly.
Millage and the math
Taxes are calculated by applying your parcel’s total mills to the assessed value. One mill equals 1 dollar of tax per 1,000 dollars of assessed value.
- General formula
- Assessed value = Appraised value × assessment rate
- Annual tax = (Assessed value ÷ 1,000) × Total mills
School district levies are often the largest piece of the total millage. Your parcel’s bill is the sum of all applicable levies for schools, county, city or township, and any special districts.
Reappraisals and levy changes
Franklin County periodically reappraises property. If your appraised value changes, your taxes can change even when millage stays the same. Voter‑approved levies or bond issues can also increase mills for affected properties. Levy renewals may maintain current mills.
Where to find Westerville tax data
To estimate with confidence, pull the most recent records for the exact parcel you want to buy.
- Franklin County Auditor: Address or parcel search for appraised value, assessed value, exemptions, and tax district identifiers.
- Franklin County Treasurer: Current and historical tax bills, payments, delinquencies, and due dates.
- Franklin County GIS or City of Westerville GIS: Maps of municipal, school district, and special district boundaries.
- City of Westerville and Westerville City School District: Recent levy results and ballot information.
- Ohio Department of Taxation: State programs and instructions for exemptions, credits, and appeals.
What to check on a parcel page
- Appraised and assessed values
- Total current tax and the breakdown by taxing authority
- Millage or tax rate fields for the tax district
- Any listed exemptions or credits, such as homestead or veteran programs
- Payment history, delinquencies, and special assessments
- Recent sale date and price
Practical tip: Save or print the most recent tax bill. Share it with your lender and closing agent to improve escrow accuracy.
How taxes affect your monthly payment
Escrow basics
Most lenders collect an escrow payment for property taxes and homeowners insurance as part of your monthly mortgage. Government loans commonly require escrow. Some conventional loans may allow a waiver with sufficient equity or a fee. Lenders review escrow annually. If taxes rise, your escrow and total monthly payment can increase.
Estimate your monthly tax
A quick method is simple: take the annual property tax shown on the treasurer’s site or your own calculation and divide by 12. For example, if annual taxes are 3,600 dollars, plan for about 300 dollars per month for taxes. Use conservative estimates in case of reappraisals or future levies.
Escrow shortages or surpluses
If the lender collected too little, you can see an escrow shortage. You may be asked to pay the difference or spread it over future payments. If there is a surplus beyond allowed cushions, you could receive a refund. Ask your lender how they calculate the escrow cushion, often equal to about two months of escrowed items.
Step-by-step example
Below is an illustrative example to show the math. Use the actual parcel’s assessed value and total mills when you estimate for a specific home.
- Listing price: 350,000 dollars
- Assessed value assumption: 35 percent of appraised value, used here for illustration
- Assessed value ≈ 350,000 × 0.35 = 122,500 dollars
- Total mills assumption: 70 mills, used here for illustration
- Annual tax ≈ (122,500 ÷ 1,000) × 70 = 8,575 dollars
- Monthly tax estimate: 8,575 ÷ 12 ≈ 715 dollars
- Combine with mortgage and insurance
- If principal and interest are 1,900 dollars and homeowners insurance is 100 dollars, your estimated PITI is about 2,715 dollars.
Again, replace the assumptions with the exact assessed value and total millage from the county records for your chosen address.
Pre-offer and pre-closing checklist
Pre-offer homework
- Look up the parcel on the Franklin County Auditor site to confirm appraised and assessed values and the tax district.
- Pull the latest tax bill and payment history from the Franklin County Treasurer.
- Identify the school district and check for recent or upcoming levy activity that could affect mills.
- Calculate an estimated annual tax using the assessed value and total mills, or use the latest bill if available.
- Divide by 12 and add the monthly tax to your housing budget.
- Ask the seller or listing agent for the most recent tax bill and any special assessments.
- For comparisons, compute the effective tax rate: annual tax ÷ purchase price.
At contract and pre-closing
- Confirm whether your lender requires escrow and how they will set it up.
- Ask how the title company will prorate taxes at closing and review the estimate.
- If the seller has exemptions, such as homestead or veteran programs, confirm whether you must reapply after purchase.
- Request copies of the current tax bill and ask about any upcoming levy ballots that could affect future taxes.
Final thoughts for Westerville buyers
Your best estimate starts with the exact parcel. Pull the assessed value and latest bill, verify total mills, convert the annual number to a monthly figure, and build that into your budget. Stay conservative and expect periodic changes from reappraisals or levies.
If you would like a local second set of eyes on a property’s tax profile or help planning escrow and proration at closing, reach out to the I Care Home Group. We combine decades of title and neighborhood experience with caring, step-by-step guidance.
FAQs
Are property taxes in Franklin County prorated at closing?
- Yes. It is standard for buyers and sellers to share the bill based on the portion of the year each owns the home. Confirm the exact method with your title company.
Can my Westerville property taxes increase right after I buy?
- Yes. Reappraisals, voter‑approved levies, or rate changes can raise taxes. Budget with a cushion for increases.
Do all buyers pay the same taxes on the same house?
- The base taxes are tied to the property, but eligible exemptions or credits can change an individual owner’s bill. Boundaries for taxing districts can also differ by parcel.
What exemptions or credits might be available in Franklin County?
- Programs may include homestead options for qualifying seniors or disabled veterans and other credits with eligibility rules. Check county and state resources and apply promptly if eligible.
How do I verify the total mills for a Westerville parcel?
- Use the county auditor or treasurer parcel page to see the tax district and breakdown of levies. If mills are not listed, use the tax district identifiers to look up rate tables or contact the auditor.
Will my lender’s escrow estimate be accurate?
- Lenders use local tax data and your property’s values to estimate escrow. Share the latest tax bill and ask your lender to show the source of their estimate to improve accuracy.
