University Heights, Ohio Property Taxes
The median property tax rate in University Heights, OH is 3.82%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in University Heights at $185,150, the typical annual property tax bill reaches $6,946, far exceeding the national median of $2,690. Property taxes in University Heights 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 University Heights' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of University Heights 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
University Heights, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s University Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in University Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in University 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 Cuyahoga County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across University Heights, Ohio
Property taxes in University Heights, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in University Heights is 3.82%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within University Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, University 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 University Heights' effective property tax rate to other counties in Ohio and the national median. For comparison, the 44118 zip code has the highest median property tax rate of 3.82%, while the same 44118 zip code also has the lowest median tax rate of 3.82%. Understanding how these cities compare with University 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 University Heights Tax Rate
3.82%
Average Cuyahoga County Tax Rate
2.64%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across University Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44118 | 3.39% | 3.81% | 3.82% | 3.85% | 3.92% |
Source: Ownwell
Property Tax Assessment Values Across University Heights, Ohio
In University 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 University 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 University Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $185,150, with the 25th percentile tax bill at $5,491 and the 75th percentile at $8,332. The highest and lowest median tax bills are both $6,946, found in the 44118 zip code.
Property Tax Assessment Values Across University Heights, Ohio
Source: Ownwell
$1,700
$1,166,850
$2,332,000
Average University Heights Assessed Value
$185,150
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 University Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44118 | $124,310 | $144,575 | $185,150 | $221,700 | $255,290 |
Source: Ownwell
Property Tax Bills Across University Heights, Ohio
In University Heights, located in Cuyahoga 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, which is determined by the county assessor. Several factors influence this value, including the property's size, location, and condition. Homeowners in University Heights face property tax bills that vary widely. For example, the 25th percentile tax bill is $5,491, while the 75th percentile tax bill rises to $8,332. For those in the 90th percentile, it can reach as high as $9,620. These figures highlight the significant impact property taxes can have on homeowners' finances. The median home price in the area is $185,150, which, when compared to the national median property tax rate of 0.99%, underscores the relatively high property tax burden in this region. Understanding these factors is crucial for homeowners to anticipate and manage their annual property tax obligations effectively.
Average University Heights Tax Bill
$6,946
Average Cuyahoga County Tax Bill
$3,544
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across University Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44118 | $4,594 | $5,491 | $6,946 | $8,332 | $9,620 |
Source: Ownwell