Bedford, Ohio Property Taxes
The median property tax rate in Bedford, OH is 2.52%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Bedford, the typical annual property tax bill reaches $2,797, slightly exceeding the national median of $2,690. Property taxes in Bedford 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 Bedford'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 Bedford 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
Bedford, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.52%
Estimate Property Tax Bill
$2,790
$2,589
Ownwell’s Bedford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bedford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bedford 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 Bedford, Ohio
Property taxes in Bedford, Ohio, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Bedford is 2.52%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bedford set these rates annually, and they can vary across different neighborhoods. Each year, Bedford 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 Bedford's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44146 has the highest median property tax rate of 2.52%, while the same zip code also has the lowest median tax rate of 2.52%. Understanding how these cities compare with Bedford 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 Bedford Tax Rate
2.52%
Average Cuyahoga County Tax Rate
2.64%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bedford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44146 | 1.99% | 2.09% | 2.52% | 2.79% | 2.87% |
Source: Ownwell
Property Tax Assessment Values Across Bedford, Ohio
In Bedford, 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 Bedford, 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 Bedford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 44146 has the highest and lowest median tax bill, both at $2,797.
Average Bedford Assessed Value
$110,700
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 Bedford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44146 | $64,700 | $88,800 | $110,700 | $150,000 | $221,240 |
Source: Ownwell
Property Tax Bills Across Bedford, Ohio
In Bedford, located in Cuyahoga County, OH, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value. Homeowners in Bedford face a median property tax bill of $2,797, which aligns with the highest and lowest median tax bills in the area. Several factors influence the tax bill, including the property's location, size, and any improvements made. The tax rate in Bedford is applied to the assessed value to determine the final bill. For instance, properties in the 25th percentile have tax bills around $2,310, while those in the 75th percentile see bills closer to $3,560. These property taxes fund essential local services such as schools, public safety, and infrastructure. While the median tax rate in Bedford is higher than the national median of 0.99%, it ensures that the community benefits from well-maintained amenities and services, ultimately impacting homeowners' quality of life.
Average Bedford Tax Bill
$2,797
Average Cuyahoga County Tax Bill
$3,544
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bedford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44146 | $1,616 | $2,310 | $2,797 | $3,560 | $4,763 |
Source: Ownwell