Mentor, Lake County, Ohio Property Taxes

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

Median Mentor, OH effective property tax rate: 1.62%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%. Median Mentor, OH home value: $192,120. Median annual Mentor, OH tax bill: $1,050, $1,350 lower than the national median property tax bill of $2,400.

How are property taxes in Lake County calculated? Property taxes in Mentor, OH 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 Mentor’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mentor, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Mentor, Lake County, Ohio Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.62%

Estimate Property Tax Bill

$3,112

$2,888

Ownwell’s Mentor Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mentor with just two data points. By entering your property's estimated assessed value, our calculator applies Mentor’s median effective tax rate 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 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. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mentor, Lake County, Ohio

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell. In Mentor, located in Lake County, Ohio, the effective property tax rate is a key factor for homeowners to consider. Comparing Mentor’s rate to other cities in Ohio and the median property tax rates in the state and the U.S. can provide valuable insights. Ohio's median property tax rate is notably higher than the national median of 1.02%, which can significantly impact property owners. Understanding how Mentor's rate aligns with these figures can help property owners make informed decisions about their investments and potential tax liabilities. Whether you're a current homeowner or considering purchasing property in Mentor, being aware of these nuances can aid in better financial planning.

Property Tax Rates Across Mentor, 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 Mentor Tax Rate

1.62%

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 Mentor, Lake County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
44060	0.22%	0.90%	1.62%	2.09%	5.80%

Source: Ownwell

Property Tax Assessment Values Across Mentor, Lake County, Ohio

When examining property taxes in Mentor, Ohio, 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 appraisal district 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.

In Lake County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Mentor.

For example, the median home price in Mentor is $192,120, with tax bills ranging significantly across the county. Zip code 44060 has the highest median home price at $192,120.

Property Tax Assessment Values Across Mentor, Lake County, Ohio

Source: Ownwell

$111,175

$393,275

$675,375

Median Mentor Market Value

$192,120

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 Mentor, Lake County, Ohio

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
44060	$93,840	$134,460	$192,120	$258,600	$328,948

Source: Ownwell

Property Tax Bills Across Mentor, Lake County, Ohio

In Mentor, located in Lake County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as neighborhood amenities, school district quality, and local government budgets can influence the assessed value and tax rate. In Mentor, the median property tax bill stands at $1,050, which is below the national median of $2,400. However, some homeowners might pay as little as $156 or as much as $4,986, depending on their property's assessed value and location within the city.

Ownwell assists homeowners in Mentor by reviewing their property assessments and identifying potential discrepancies that could lead to overpayment. By filing appeals and seeking exemptions, Ownwell can help homeowners potentially lower their tax bills, ensuring they only pay their fair share. This service not only saves money but also provides peace of mind, knowing that property taxes are accurately assessed.

Property Tax Bills Across Mentor, Lake County, Ohio

Source: Ownwell

$178

$9,225

$18,271

Median Mentor Tax Bill

$1,050

Median Lake County Tax Bill

$1,087

Median Ohio Tax Bill

$2,396

Median United States Tax Bill

$2,400

Property Tax Bills Across Mentor, Lake County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
44060	$41	$156	$1,050	$2,585	$4,986

Source: Ownwell