Chagrin Falls, Ohio Property Taxes
The median property tax rate in Chagrin Falls, OH is 2.17%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Chagrin Falls at $290,400, the typical annual property tax bill reaches $6,591, exceeding the national median of $2,690. Property taxes in Chagrin Falls 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 Chagrin Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Chagrin Falls 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
Chagrin Falls, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$6,302
Ownwell’s Chagrin Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chagrin Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chagrin Falls 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 Chagrin Falls, Ohio
Property taxes in Chagrin Falls, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chagrin Falls is 2.17%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Chagrin Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chagrin Falls 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 Chagrin Falls' effective property tax rate to other areas in Ohio and the national median. For comparison, the 44022 zip code has the highest median property tax rate of 2.81%, while the 44023 zip code has the lowest median tax rate of 2.11%. Understanding how these areas compare with Chagrin Falls provides valuable insights into the varying tax landscape across Geauga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chagrin Falls Tax Rate
2.17%
Average Geauga County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chagrin Falls, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44022 | 2.02% | 2.46% | 2.81% | 3.01% | 3.21% |
| 44023 | 1.86% | 1.99% | 2.11% | 2.25% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across Chagrin Falls, Ohio
In Chagrin Falls, 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 Geauga County Auditor 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 Chagrin Falls, 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 Chagrin Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In this area, the highest median tax bill is $8,438 in zip code 44022, while the lowest is $6,157 in zip code 44023.
Average Chagrin Falls Assessed Value
$290,400
Average Geauga County Assessed Value
$217,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chagrin Falls, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44022 | $181,000 | $221,000 | $296,900 | $404,750 | $580,430 |
| 44023 | $146,700 | $210,800 | $288,700 | $404,600 | $538,120 |
Source: Ownwell
Property Tax Bills Across Chagrin Falls, Ohio
Property tax bills in Chagrin Falls, situated in Geauga County, OH, are calculated based on the assessed value of a property, which is determined by the county tax assessor. This assessed value is a percentage of the property's market value. For instance, with a median home price of $290,400, the tax bill is influenced by various factors including the property’s location, size, and condition. Homeowners in Chagrin Falls can expect property tax bills that vary significantly. The tax bill for the 25th percentile stands at $4,822, while those in the 75th percentile face a bill of $9,465. At the 90th percentile, the tax bill can reach up to $12,448. These figures highlight the range of property tax obligations within the area. Comparatively, the national median property tax rate is 0.99%, making it crucial for homeowners to understand how their local rates and assessed values impact their overall tax responsibilities. This variability can significantly affect household budgeting and long-term financial planning for residents.
Average Chagrin Falls Tax Bill
$6,591
Average Geauga County Tax Bill
$4,427
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Chagrin Falls, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44022 | $4,814 | $6,096 | $8,438 | $11,045 | $14,995 |
| 44023 | $3,188 | $4,440 | $6,157 | $8,663 | $11,594 |
Source: Ownwell