Lake County, Ohio Property Taxes

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

Median Lake County effective property tax rate: 2.03%, significantly higher than the national median of 1.02%. Median Lake County home value: $154,020. Median annual Lake County tax bill: $1,087, $1,313 lower than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated?

Property taxes in Lake County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Mentor or another part of Lake County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Lake County, Ohio Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

2.03%

Estimate Property Tax Bill

$3,127

$2,901

Ownwell’s Lake County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lake County with just two data points. By entering your property's estimated assessed value, our calculator applies Lake County’s median effective tax rate of 1.79% 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 more 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 Lake County. With Lake County's median property tax bill at $3,084, which is notably above the national median property tax bill of $2,400, it becomes crucial to explore potential savings. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lake County, Ohio

Local government entities set tax rates, which can vary widely within a state. Each year, counties estimate the budget needed to provide essential services and divide this by the total value of all taxable property within their boundaries. This calculation determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core process.

Lake County, Ohio, has a median property tax rate of 2.03%, which is significantly higher than the national median of 1.02%. Within Lake County, Wickliffe has the highest median tax rate at 2.58%, while Concord Township offers some relief with the lowest rate at 1.02%. These figures reflect the diverse range of tax rates within just one county, highlighting the importance of understanding local property tax dynamics. Comparing Lake County's effective property tax rate to the national average provides insight into the relative tax burden on property owners in the area.

Property Tax Rates Across Lake County, Ohio

Source: Ownwell

1.00%

1.79%

2.58%

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 Lake County Tax Rate

2.03%

Median Effective Ohio Tax Rate

1.80%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lake County, Ohio

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Chardon	1.14%	1.34%	1.66%	1.99%	2.18%
Concord Township	0.12%	0.92%	1.02%	1.93%	3.34%
Eastlake	0.42%	1.23%	2.10%	3.03%	7.05%
Fairport Harbor	0.18%	1.27%	1.75%	3.20%	5.60%
Kirtland	1.01%	1.80%	1.85%	2.97%	5.03%
Madison	0.98%	2.10%	2.17%	3.58%	9.71%
Mentor	0.22%	0.90%	1.62%	2.09%	5.80%
Mentor On The Lake	0.49%	1.10%	1.96%	3.67%	5.99%
Painesville	0.70%	1.17%	2.03%	2.69%	6.53%
Perry	0.74%	0.95%	1.53%	2.20%	3.73%
Thompson	0.67%	1.19%	2.06%	2.27%	2.40%
Waite Hill	2.11%	2.11%	2.11%	2.11%	2.11%
Wickliffe	0.35%	1.38%	2.58%	3.90%	8.52%
Willoughby	0.62%	1.20%	2.11%	2.87%	6.93%
Willoughby Hills	0.26%	1.16%	1.43%	3.19%	5.89%
Willowick	0.49%	1.20%	1.60%	3.42%	6.93%
Geneva	N/A	N/A	N/A	N/A	N/A
Grand River	N/A	N/A	N/A	N/A	N/A
Kirtland Hills	N/A	N/A	N/A	N/A	N/A
Lakeline	N/A	N/A	N/A	N/A	N/A
North Perry	N/A	N/A	N/A	N/A	N/A
Timberlake	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Lake County, Ohio

When examining property taxes in Lake County, 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 Lake County Auditor 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 Lake 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 Lake County.

For example, the median tax bill in Lake County is $2,597, with tax bills ranging significantly across the county. Waite Hill has the highest median home price at $675,375.

Property Tax Assessment Values Across Lake County, Ohio

Source: Ownwell

$111,175

$393,275

$675,375

Median Lake County Market Value

$154,020

Median Ohio Market Value

$133,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lake County, Ohio

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Chardon	$157,248	$187,990	$239,600	$287,040	$319,260
Concord Township	$125,350	$176,012	$254,705	$354,895	$448,476
Eastlake	$85,151	$103,628	$135,205	$170,525	$225,277
Fairport Harbor	$75,090	$95,090	$111,175	$137,468	$178,115
Kirtland	$18,444	$182,482	$266,485	$464,978	$574,752
Madison	$27,434	$90,120	$134,970	$183,780	$251,816
Mentor	$93,840	$134,460	$192,120	$258,600	$328,948
Mentor On The Lake	$79,196	$119,060	$138,630	$171,775	$201,490
Painesville	$57,310	$86,455	$130,390	$183,230	$248,228
Perry	$108,460	$139,640	$180,580	$244,520	$303,690
Thompson	$92,568	$151,615	$201,200	$277,235	$342,786
Waite Hill	$49,197	$440,238	$675,375	$842,455	$937,150
Wickliffe	$89,420	$106,030	$129,575	$150,938	$191,178
Willoughby	$83,640	$119,108	$173,215	$259,750	$379,121
Willoughby Hills	$145,297	$184,150	$236,195	$323,262	$442,829
Willowick	$99,432	$112,390	$127,810	$141,540	$159,384
Geneva	N/A	N/A	N/A	N/A	N/A
Grand River	N/A	N/A	N/A	N/A	N/A
Kirtland Hills	N/A	N/A	N/A	N/A	N/A
Lakeline	N/A	N/A	N/A	N/A	N/A
North Perry	N/A	N/A	N/A	N/A	N/A
Timberlake	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Lake County, Ohio

In Lake County, OH, property tax bills are determined by assessing the property's value and applying the local tax rate. The median home price in this region is $154,020. Homeowners can expect their tax bill to vary significantly, reflecting the diversity in property values and local tax rates. For instance, while some residents might pay as little as $200, others could see bills as high as $5,331. This range illustrates the influence of property value and location on tax assessments. Waite Hill, known for its higher property values, has the highest median tax bill at $18,271, contrasting sharply with Perry, where the lowest median tax bill is just $178. These disparities underscore the importance of understanding local property values and tax rates. Compared to the national median property tax rate of 1.02% and the median tax bill of $2,400, Lake County's range highlights the potential for both lower and higher tax obligations, affecting homeowners' financial planning and property investment decisions.

Property Tax Bills Across Lake County, Ohio

Source: Ownwell

$178

$9,225

$18,271

Median Lake County Tax Bill

$1,087

Median Ohio Tax Bill

$2,396

Median United States Tax Bill

$2,400

Property Tax Bills Across Lake County, Ohio

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Chardon	$1,948	$2,075	$2,286	$2,498	$2,624
Concord Township	$429	$1,171	$2,544	$4,469	$7,335
Eastlake	$27	$833	$1,831	$3,456	$5,517
Fairport Harbor	$150	$1,232	$2,019	$4,018	$6,050
Kirtland	$75	$90	$180	$1,114	$5,978
Madison	$35	$138	$414	$1,406	$3,213
Mentor	$41	$156	$1,050	$2,585	$4,986
Mentor On The Lake	$382	$1,350	$2,153	$4,483	$7,109
Painesville	$49	$440	$1,056	$2,095	$4,354
Perry	$15	$35	$178	$1,639	$3,344
Thompson	$480	$705	$1,081	$3,434	$4,845
Waite Hill	$18,271	$18,271	$18,271	$18,271	$18,271
Wickliffe	$25	$219	$1,609	$3,859	$6,343
Willoughby	$63	$162	$649	$2,586	$5,304
Willoughby Hills	$278	$1,836	$2,894	$5,946	$12,280
Willowick	$183	$1,321	$2,034	$4,372	$7,973
Geneva	N/A	N/A	N/A	N/A	N/A
Grand River	N/A	N/A	N/A	N/A	N/A
Kirtland Hills	N/A	N/A	N/A	N/A	N/A
Lakeline	N/A	N/A	N/A	N/A	N/A
North Perry	N/A	N/A	N/A	N/A	N/A
Timberlake	N/A	N/A	N/A	N/A	N/A

Source: Ownwell