Chardon, Ohio Property Taxes
The median property tax rate in Chardon, OH is 1.66%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $239,600 in Chardon, the typical annual property tax bill is $2,286, slightly below the national median of $2,690. Property taxes in Chardon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Chardon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Chardon or another part of Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chardon, 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 Chardon Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Chardon to provide an accurate estimate of your property tax bill. This handy tool helps you understand potential tax liabilities, giving you a clearer picture of your financial commitments. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Chardon, Ohio
Property taxes in Chardon, OH, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chardon is 1.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Chardon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chardon 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 Chardon's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44024 zip code has the highest median property tax rate of 1.66%, while the same 44024 zip code also has the lowest median tax rate of 1.66%. Understanding how these cities compare with Chardon provides valuable insights into the varying tax landscape across Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chardon Tax Rate
1.66%
Average Lake County Tax Rate
2.03%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chardon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44024 | 1.14% | 1.34% | 1.66% | 1.99% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Chardon, Ohio
In Chardon, 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 Lake 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 Chardon, 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 Chardon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Chardon both stand at $2,286, specifically in the 44024 zip code.
Average Chardon Assessed Value
$239,600
Average Lake County Assessed Value
$154,020
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chardon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44024 | $157,248 | $187,990 | $239,600 | $287,040 | $319,260 |
Source: Ownwell
Property Tax Bills Across Chardon, Ohio
Property tax bills in Chardon, located in Lake County, OH, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. In Chardon, the median home price stands at $239,600, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For example, homeowners in Chardon can expect their property tax bills to fall within a range, with the 25th percentile at $2,075 and the 75th percentile at $2,498. At the 90th percentile, the tax bill can reach up to $2,624. These figures are higher than the national median property tax rate of 0.99%, reflecting the specific economic conditions and public service demands in the area. For homeowners, understanding these factors is crucial as property taxes represent a significant annual expense and can impact overall affordability and financial planning.
Average Chardon Tax Bill
$2,286
Average Lake County Tax Bill
$1,087
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Chardon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44024 | $1,948 | $2,075 | $2,286 | $2,498 | $2,624 |
Source: Ownwell