Parma Heights, Ohio Property Taxes
The median property tax rate in Parma Heights, OH is 2.53%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value of $184,400 in Parma Heights, the typical annual property tax bill reaches $4,674, surpassing the national median of $2,690. Property taxes in Parma Heights are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Parma Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Parma Heights or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Parma Heights, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$4,665
$4,329
Ownwell’s Parma Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Parma Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Parma Heights 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 Parma Heights, Ohio
Property taxes in Parma Heights, Ohio, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Parma Heights is 2.53%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Parma Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parma Heights 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 Parma Heights' effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44130 has the highest median property tax rate of 2.53%, while the same zip code also has the lowest median tax rate of 2.53%. Understanding how these areas compare with Parma Heights 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 Parma Heights Tax Rate
2.53%
Average Cuyahoga County Tax Rate
2.64%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parma Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44130 | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% |
Source: Ownwell
Property Tax Assessment Values Across Parma Heights, Ohio
In Parma Heights, 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 Parma Heights, 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 Parma Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 44130 has the highest and lowest median tax bill, both at $4,674, indicating a uniform tax landscape in the area.
Average Parma Heights Assessed Value
$184,400
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 Parma Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44130 | $184,400 | $184,400 | $184,400 | $184,400 | $184,400 |
Source: Ownwell
Property Tax Bills Across Parma Heights, Ohio
In Parma Heights, 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's office. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Parma Heights, the median home price is $184,400, and the property tax rate significantly influences the final tax amount. The property tax rate in this region is notably higher than the national median property tax rate of 0.99%. Homeowners in Parma Heights face a median tax bill of $4,674, which remains consistent across various percentiles, indicating a uniform tax structure within the city. This tax amount can impact homeowners by contributing to their overall housing costs, potentially influencing decisions on home purchases and long-term financial planning. Understanding these factors helps homeowners anticipate their annual expenses and manage their budgets effectively.
Average Parma Heights Tax Bill
$4,674
Average Cuyahoga County Tax Bill
$3,544
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Parma Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44130 | $4,674 | $4,674 | $4,674 | $4,674 | $4,674 |
Source: Ownwell