Avon Lake, Ohio Property Taxes
The median property tax rate in Avon Lake, OH is 1.84%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Avon Lake, the typical annual property tax bill reaches $4,557, exceeding the national median of $2,690. Property taxes in Avon Lake 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 Avon Lake'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 Avon Lake 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
Avon Lake, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$4,613
Ownwell’s Avon Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Avon Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Avon Lake 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 Lorain County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Avon Lake, Ohio
Property taxes in Avon Lake, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Avon Lake is 1.84%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Avon Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Avon Lake 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 Avon Lake's effective property tax rate to other counties in Ohio and the national median. For comparison, the highest median property tax rate in Avon Lake is 1.84%, while the lowest median tax rate is also 1.84%. Understanding how these cities compare with Avon Lake provides valuable insights into the varying tax landscape across Lorain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Avon Lake Tax Rate
1.84%
Average Lorain County Tax Rate
1.82%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Avon Lake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44012 | 1.67% | 1.84% | 1.84% | 1.84% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Avon Lake, Ohio
In Avon Lake, 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 Lorain 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 Avon Lake, 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. The median home price in Avon Lake is $250,710, with tax bills ranging from $2,923 at the 25th percentile to $8,741 at the 90th percentile. The zip code 44012 has both the highest and lowest median tax bill, which is $4,558. 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 Avon Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Avon Lake Assessed Value
$250,710
Average Lorain County Assessed Value
$141,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Avon Lake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44012 | $113,422 | $161,905 | $250,860 | $358,800 | $475,556 |
Source: Ownwell
Property Tax Bills Across Avon Lake, Ohio
In Avon Lake, Lorain County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value determined by county assessors. This value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Avon Lake, the median home price is $250,710. Property tax bills vary significantly, with the 25th percentile at $2,923 and the 75th percentile reaching $6,580. Those in the 90th percentile can expect to pay around $8,741. The highest median tax bill in the area is $4,558, which is consistent across the 44012 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Avon Lake may find their tax bills to be relatively higher or lower depending on their property’s assessed value and the specific tax rate applied. This variability can significantly impact household budgets, making it crucial for homeowners to understand how their tax bills are determined.
Average Avon Lake Tax Bill
$4,557
Average Lorain County Tax Bill
$2,507
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Avon Lake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44012 | $2,036 | $2,925 | $4,558 | $6,581 | $8,742 |
Source: Ownwell