Walton Hills, Ohio Property Taxes
The median property tax rate in Walton Hills, OH is 2.09%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Walton Hills, the typical annual property tax bill reaches $3,791, exceeding the national median of $2,690. Property taxes in Walton Hills 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 Walton Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Walton Hills 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
Walton Hills, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$4,222
$3,918
Ownwell’s Walton Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walton Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walton Hills 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 Walton Hills, Ohio
Property taxes in Walton Hills, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walton Hills is 2.09%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Walton Hills set these rates annually, and they can vary considerably across different neighborhoods. Each year, Walton Hills 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 Walton Hills' effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44146 has the highest median property tax rate of 2.09%, while the same zip code also has the lowest median tax rate of 2.09%. Understanding how these values compare with Walton Hills 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 Walton Hills Tax Rate
2.09%
Average Cuyahoga County Tax Rate
2.64%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walton Hills, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44146 | 1.87% | 1.99% | 2.09% | 2.11% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Walton Hills, Ohio
In Walton Hills, 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 Walton Hills, 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 Walton Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 44146, with a median tax bill of $3,791.
Average Walton Hills Assessed Value
$202,000
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 Walton Hills, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44146 | $28,800 | $86,000 | $202,000 | $207,600 | $237,500 |
Source: Ownwell
Property Tax Bills Across Walton Hills, Ohio
In Walton Hills, property tax bills are calculated based on the assessed value of a home, which is determined by the Cuyahoga County Assessor's office. This assessed value is a percentage of the market value of the property. Homeowners in Walton Hills can expect their tax bills to vary significantly, with the 25th percentile tax bill at $1,949 and the 75th percentile tax bill reaching $4,368. The highest median tax bill in the area is $3,791, found in the 44146 zip code. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. These taxes fund essential community services such as schools, public safety, and infrastructure. For homeowners, this means that while property taxes are a necessary expense, they also contribute to maintaining and improving the quality of life in Walton Hills. Comparing this to the national median property tax rate of 0.99%, Walton Hills' rates can be seen as relatively high, reflecting the value placed on local services and amenities.
Average Walton Hills Tax Bill
$3,791
Average Cuyahoga County Tax Bill
$3,544
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Walton Hills, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44146 | $574 | $1,949 | $3,791 | $4,368 | $4,952 |
Source: Ownwell