Hunting Valley, Ohio Property Taxes
The median property tax rate in Hunting Valley, OH is 2.59%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Hunting Valley at $1,260,250, the typical annual property tax bill reaches $32,597, far exceeding the national median of $2,690. Property taxes in Hunting Valley are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hunting Valley'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 Hunting Valley or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hunting Valley, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.59%
Estimate Property Tax Bill
$32,640
Ownwell’s HUNTING VALLEY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HUNTING VALLEY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HUNTING VALLEY 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 Hunting Valley, Ohio
Property taxes in Hunting Valley, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hunting Valley is 2.59%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Hunting Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hunting Valley 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 Hunting Valley's effective property tax rate to other areas in Cuyahoga County and the national median. For comparison, the 44022 zip code has the highest median property tax rate of 2.59%, while the 44122 zip code has the lowest median tax rate of 2.53%. Understanding how these areas compare with Hunting Valley provides valuable insights into the varying tax landscape across Cuyahoga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hunting Valley Tax Rate
2.59%
Average Cuyahoga County Tax Rate
2.64%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hunting Valley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44022 | 2.54% | 2.55% | 2.59% | 2.59% | 2.59% |
| 44040 | 2.59% | 2.59% | 2.59% | 2.59% | 2.59% |
| 44122 | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% |
| 44124 | 2.55% | 2.55% | 2.57% | 2.58% | 2.58% |
Source: Ownwell
Property Tax Assessment Values Across Hunting Valley, Ohio
In Hunting Valley, 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 Cuyahoga 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 Hunting Valley, 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 Hunting Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $60,001 in the 44124 zip code, while the lowest is $26,514 in the 44022 zip code.
Average Hunting Valley Assessed Value
$1,260,250
Average Cuyahoga County Assessed Value
$138,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hunting Valley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44022 | $312,900 | $838,750 | $1,043,200 | $1,548,200 | $2,601,350 |
| 44040 | $813,440 | $973,550 | $1,240,400 | $1,311,700 | $1,354,480 |
| 44122 | $1,714,800 | $1,714,800 | $1,714,800 | $1,714,800 | $1,714,800 |
| 44124 | $1,651,760 | $1,906,850 | $2,332,000 | $2,757,150 | $3,012,240 |
Source: Ownwell
Property Tax Bills Across Hunting Valley, Ohio
In Hunting Valley, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine your annual tax bill. Several factors influence this bill, including the property's location, size, and any applicable exemptions or abatements. For homeowners in Hunting Valley, the tax burden can be significant. The median home price stands at $1,260,250, and the property tax rate in Cuyahoga County is higher than the national median of 0.99%. Consequently, homeowners in the 25th percentile face tax bills around $21,665, while those in the 75th percentile see bills closer to $41,979. At the 90th percentile, tax bills can soar to $71,395. These costs can substantially impact household budgets, making it crucial for homeowners to understand how their tax bill is determined and explore any available exemptions or appeal options to potentially reduce their financial burden.
Average Hunting Valley Tax Bill
$32,597
Average Cuyahoga County Tax Bill
$3,544
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Hunting Valley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44022 | $8,085 | $21,360 | $26,514 | $40,045 | $67,285 |
| 44040 | $21,040 | $25,181 | $32,083 | $33,927 | $35,034 |
| 44122 | $43,408 | $43,408 | $43,408 | $43,408 | $43,408 |
| 44124 | $42,153 | $48,846 | $60,001 | $71,156 | $77,849 |
Source: Ownwell