Westerville Property Taxes and Escrow Guide for Buyers

Property taxes and escrow can change your monthly payment by hundreds of dollars. If you are buying in Westerville, the split between Franklin and Delaware counties adds a few twists. You want a clear, simple way to budget and know what to ask your lender. This guide breaks down how Ohio property taxes are calculated, how escrow accounts work, what happens at closing, and how to estimate your monthly costs with confidence. Let’s dive in.

How Ohio property taxes work

Market vs. assessed value

In Ohio, your tax bill is based on an assessed value, not full market value. Counties set assessed value as a percentage of market value. Many examples use 35 percent as the assessment ratio, but you should confirm the current method on the county auditor’s parcel page for the property.

• Action step: Look up the property on the correct county site. For Westerville addresses in Franklin County, use the Franklin County Auditor. For addresses in Delaware County, use the Delaware County Auditor.

Millage rates and levies

Your annual bill is assessed value multiplied by the total millage for your parcel. Mills are dollars per $1,000 of assessed value. Total millage is the sum of county, city or township, school district, library, fire, and other voter‑approved levies. Parcels in Westerville can sit in different school districts and different counties, so total mills vary by address.

• Action step: Use the county auditor parcel page to view the exact millage and recent tax history for the specific property.

Annual bill formula

Here is the common formula you can use to understand the math:

• annual tax = (assessed value ÷ 1,000) × total mills

Your monthly escrow for taxes is usually the annual tax divided by 12.

Westerville local specifics

Westerville spans Franklin County and a smaller portion of Delaware County. That affects which auditor and treasurer you will work with, and which millage applies to your parcel. School district boundaries also impact total mills. Many Westerville addresses are in Westerville City Schools. Boundaries vary, so confirm the district for the address on the parcel search and review district information from Westerville City Schools.

• Franklin County bills are paid to the Franklin County Treasurer.
• Delaware County bills are paid to the Delaware County Treasurer.

Exemptions, credits, and changes

Ohio offers exemptions and credits at the county level, including homestead or senior/disabled programs. Eligibility, application, and transfer rules are handled by the county auditor. If the current owner has a rollback or exemption, it may change after the sale, which can affect your bill. Verify eligibility and whether any current reduction will remain once you take title.

Escrow accounts 101

Why lenders require escrow

Most lenders require an escrow account to make sure property taxes and homeowner’s insurance are paid on time. This protects the property and the lender’s collateral. Tax liens can take priority over a mortgage, so servicers want funds on hand when bills are due.

Monthly escrow calculation

Your ongoing escrow payment is usually:

• monthly escrow = (annual property tax + annual homeowner’s insurance + any other escrowed items) ÷ 12

Lenders also build and maintain a target balance so funds are available when bills arrive.

Initial deposit at closing

At closing, your lender collects an initial escrow deposit. The amount depends on the closing date, county bill timing, and whether the seller prepaid any taxes. The goal is to have enough in the account to pay upcoming bills and to maintain a small cushion.

Cushion limits and disclosures

Federal rules under RESPA (Regulation X) allow a cushion but generally limit it to two months of escrowed disbursements. Lenders must provide an escrow disclosure showing the monthly payment, the initial deposit, and projected activity. For plain‑language guidance, see the CFPB’s consumer resources.

Tax proration at closing

Common practice

Property taxes are usually prorated between buyer and seller at closing so each pays for the portion of the year they owned the property. The title company performs the proration according to your purchase contract and local custom. Contracts vary, so read how your deal handles proration.

Methods you may see

• Calendar‑year day count using the current year’s tax, estimated if necessary.
• Based on the last paid bill if the current bill is not yet available.
• Accrual or as‑billed methods, depending on contract language.

Delinquencies and special assessments

Delinquent taxes and special assessments are typically paid off by the seller so clear title transfers at closing. If anything is unpaid, the contract and the Closing Disclosure should show how it will be resolved.

Local timing to note

Tax bill due dates and cycles can differ slightly between Franklin County and Delaware County. Check the treasurer’s website for your parcel’s due dates. If the seller has already paid a bill, proration will credit that party appropriately on the settlement statement.

Budget examples for Westerville buyers

These examples are hypothetical to show the mechanics. Always plug in the exact assessed value and mills from the county auditor parcel page for the specific property.

Example A: Lower‑millage scenario

Assumptions:

• Market value: $300,000
• Assessed value (example ratio): 35 percent → $105,000
• Total mills: 70 mills

Steps:

• annual tax = (105,000 ÷ 1,000) × 70 = 105 × 70 = $7,350 per year
• monthly tax portion = $7,350 ÷ 12 = $612.50

Escrow monthly estimate:

• tax only = $612.50
• add insurance at $1,200 per year → $100 per month
• combined escrow collection = $712.50 per month

Initial escrow deposit at closing (illustrative):

• assume the lender needs to pre‑fund 6 months of bills plus a 2‑month cushion
• initial deposit = 8 × $712.50 = $5,700

Example B: Higher‑millage scenario

Assumptions:

• Market value: $300,000
• Assessed value: 35 percent → $105,000
• Total mills: 100 mills

Steps:

• annual tax = (105,000 ÷ 1,000) × 100 = 105 × 100 = $10,500 per year
• monthly tax portion = $875.00

Escrow monthly estimate:

• tax only = $875.00
• add $100 per month for insurance → $975.00 per month combined

Initial escrow deposit at closing (illustrative):

• initial deposit = 8 × $975.00 = $7,800

Example: Simple proration

• Annual tax: $3,000
• Closing date: April 1
• Seller’s days owned: Jan 1–Mar 31 = 90 days
• Buyer’s days: 365 − 90 = 275 days

Proration amounts:

• seller portion = (90 ÷ 365) × $3,000 ≈ $739.73
• buyer portion = (275 ÷ 365) × $3,000 ≈ $2,260.27

Your Closing Disclosure will show the actual prorations and any escrow deposit required at closing.

Your lender conversation checklist

Before you lock, ask your lender:

• Is escrow required for this loan program? Which items will be escrowed?
• What is the projected monthly escrow for taxes and insurance for this property? Can I see it in writing?
• What initial escrow deposit will be required at closing, and how did you calculate it?
• How much of a cushion will you hold in escrow? (RESPA generally limits the cushion to two months.)
• Who will pay the county tax bills, and when are the due dates for this parcel?
• If taxes increase after a reassessment or new levy, how will my monthly payment change and how will you notify me?
• Who will service the loan after closing, and who do I contact about escrow questions?

What to verify before closing

With your agent and title company:

• Confirm the correct county for the parcel and the parcel ID in the contract.
• Pull the county auditor page for assessed value, millage, and recent tax history.
• Confirm the proration method in the contract: calendar‑year, accrual, or as billed.
• Identify any unpaid taxes, special assessments, or pending levies, and confirm how they will be paid.
• Request a pre‑closing estimate of prorations and the Closing Disclosure to review the escrow deposit line.

Documents to request or save:

• Recent tax bill(s) for the property.
• County auditor parcel and tax history page printout.
• Lender’s escrow worksheet and your Closing Disclosure.
• Title commitment and payoff statements showing liens or delinquencies are resolved.

Action steps for Westerville shoppers

1. Look up the property on the correct county auditor site to confirm assessed value, millage, and tax history.

2. Ask the seller or listing agent for the most recent tax bill and any evidence of exemptions or credits that may change after the sale.

3. Request a written escrow projection from your lender, including the initial deposit and cushion.

4. Confirm the proration method in your purchase contract and ask your title company for a pre‑closing estimate.

5. Build your monthly budget using the formula and examples above, then update your numbers with the exact county data for the address you select.

Buying in Westerville should feel clear, not confusing. If you want a second set of eyes on taxes, escrow, and what that means for your monthly payment, reach out to a local team that does this every day. Talk with Michael Bradley Gibson to walk through your scenario and next steps.

FAQs

Will my Westerville mortgage payment include property taxes?

• Often yes if your lender requires an escrow account. If not, you will pay the county directly and should budget for lump‑sum bills.

How are Ohio property taxes calculated for a specific house?

• The county auditor applies a percentage of market value to set assessed value, then multiplies by total mills for that parcel. Use the county parcel page for exact numbers.

Do buyers or sellers pay Westerville taxes at closing?

• Taxes are typically prorated so each party pays for the days they owned the home during the tax year, following the purchase contract and local custom.

Can my property tax amount change after I buy in Westerville?

• Yes. New levies, reassessments, or millage changes can increase bills. Your lender will adjust escrow after an annual analysis if amounts change.

Where do I find the exact tax rate for a Westerville address?

• Check the property’s parcel page on the Franklin County Auditor or Delaware County Auditor site, depending on the county for that address.