Brookpark, Ohio Property Taxes
The median property tax rate in Brookpark, OH is 2.12%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Brookpark at $137,000, the typical annual property tax bill reaches $2,803, exceeding the national median of $2,690. Property taxes in Brookpark 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 Brookpark'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 Brookpark 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
Brookpark, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.12%
Estimate Property Tax Bill
$2,904
Ownwell’s Brookpark Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brookpark with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brookpark 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 Brookpark, Ohio
Property taxes in Brookpark, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Brookpark is 2.12%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Brookpark set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brookpark 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 Brookpark's effective property tax rate to other areas in Ohio and the national median. For comparison, the 44142 zip code has the highest median property tax rate of 2.12%, while the lowest median tax rate is also 2.12%. Understanding how these areas compare with Brookpark 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 Brookpark Tax Rate
2.12%
Average Cuyahoga County Tax Rate
2.64%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brookpark, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44142 | 1.72% | 2.12% | 2.12% | 2.12% | 2.16% |
Source: Ownwell
Property Tax Assessment Values Across Brookpark, Ohio
In Brookpark, 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 Brookpark, 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 Brookpark helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Brookpark are both $2803, found in the zip code 44142.
Average Brookpark Assessed Value
$137,000
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 Brookpark, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44142 | $117,170 | $126,600 | $137,000 | $151,600 | $166,700 |
Source: Ownwell
Property Tax Bills Across Brookpark, Ohio
In Brookpark, located in Cuyahoga County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Brookpark experience a range of property tax bills, with the 25th percentile tax bill at $2,524, the 75th percentile at $3,150, and the 90th percentile reaching $3,487. The median property tax bill in the area stands at $2,803, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence property tax bills, including the property's assessed value, local tax rates, and any applicable exemptions or reductions. These taxes fund essential public services such as schools, infrastructure, and emergency services. For homeowners, this means that while property taxes are a necessary expense, they also directly contribute to the quality of life in their community. Understanding these factors can help homeowners in Brookpark better anticipate and manage their annual property tax obligations.
Average Brookpark Tax Bill
$2,803
Average Cuyahoga County Tax Bill
$3,544
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Brookpark, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44142 | $2,139 | $2,524 | $2,803 | $3,150 | $3,487 |
Source: Ownwell