Lakewood, Cuyahoga County, Ohio Property Taxes

Name: Property Tax Bills Across Lakewood, Cuyahoga County, Ohio
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Lakewood, OH effective property tax rate: 2.64%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Lakewood, OH home value: $192,500
Median annual Lakewood, OH tax bill: $5,005, $2,605 higher than the national median property tax bill of $2,400.

How are property taxes in Cuyahoga calculated?

Property taxes in Lakewood, OH are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Lakewood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lakewood, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lakewood, Cuyahoga County, Ohio Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.64%

Estimate Property Tax Bill

$5,082

$4,716

Ownwell’s Lakewood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lakewood with just two data points. By entering your property's estimated assessed value, our calculator applies Lakewood’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Cuyahoga County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lakewood, Cuyahoga County, Ohio

Local government entities are responsible for setting tax rates, which can differ significantly within a state. Each year, counties determine the budget needed to provide essential services and divide this by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the basic annual process. In Lakewood, located in Cuyahoga County, Ohio, the effective property tax rate is 2.64%. This rate is notably higher than the national median property tax rate of 1.02% and also exceeds the state median. Such a high rate can significantly impact homeowners, making it essential to explore potential property tax appeals and exemptions. By comparing Lakewood’s tax rate to other cities in Ohio and the national median, homeowners can better understand their tax obligations and seek ways to manage them effectively.

Property Tax Rates Across Lakewood, Cuyahoga County, Ohio

Source: Ownwell

1.74%

2.81%

3.88%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Lakewood Tax Rate

2.64%

Median Effective Cuyahoga County Tax Rate

2.64%

Median Effective Ohio Tax Rate

1.80%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lakewood, Cuyahoga County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
44107	2.36%	2.64%	2.64%	2.69%	2.70%
44102	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Lakewood, Cuyahoga County, Ohio

When examining property taxes in Lakewood, Ohio, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Cuyahoga County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Cuyahoga County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lakewood. For example, the median home price in Lakewood is $192,500, with tax bills ranging significantly across the county. 44107 has the highest median home price at $192,500.

Property Tax Assessment Values Across Lakewood, Cuyahoga County, Ohio

Source: Ownwell

$20,800

$532,000

$1,043,200

Median Lakewood Market Value

$192,500

Median Cuyahoga County Market Value

$138,300

Median Ohio Market Value

$133,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lakewood, Cuyahoga County, Ohio

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
44107	$54,080	$145,400	$192,500	$237,150	$335,880
44102	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Lakewood, Cuyahoga County, Ohio

In Lakewood, 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 tax rate is applied to this assessed value, resulting in the property tax bill. Factors such as the home's location, size, and any improvements can influence the assessed value. Homeowners in Lakewood face a median property tax bill of $5,005, significantly higher than the national median property tax bill of $2,400. This can be a substantial financial burden, especially when compared to the national median property tax rate of 1.02%.

Ownwell can assist homeowners in Lakewood by providing property tax appeal and exemption services. By analyzing the assessed value and comparing it to similar properties, Ownwell helps identify potential over-assessments. If discrepancies are found, Ownwell can guide homeowners through the appeal process, potentially lowering their property tax bills. This service can lead to significant savings, making homeownership more affordable in Lakewood.

Property Tax Bills Across Lakewood, Cuyahoga County, Ohio

Source: Ownwell

$640

$13,577

$26,514

Median Lakewood Tax Bill

$5,005

Median Cuyahoga County Tax Bill

$3,544

Median Ohio Tax Bill

$2,396

Median United States Tax Bill

$2,400

Property Tax Bills Across Lakewood, Cuyahoga County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
44107	$1,399	$3,699	$5,005	$6,192	$8,656
44102	N/A	N/A	N/A	N/A	N/A

Source: Ownwell