Perry, Lake County, Ohio Property Taxes
The median property tax rate in Perry, OH is 1.53%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $180,580, the typical annual property tax bill in Perry reaches $178, significantly below the national median of $2,690. Property taxes in Perry are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Perry'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 Perry 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
Perry, Lake County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$2,763
$2,564
Ownwell’s Perry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perry 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 Perry, Lake County, Ohio
Property taxes in Perry, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Perry is 1.53%, significantly higher than the U.S. national median of 0.99%. Local government entities within Perry set these rates annually, and they can vary across different neighborhoods. Each year, Perry 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 Perry's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44081 has both the highest and lowest median property tax rate of 1.53%. Understanding how these areas compare with Perry 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 Perry Tax Rate
1.53%
Average Lake County Tax Rate
2.03%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Perry, Lake County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44081 | 0.74% | 0.95% | 1.53% | 2.20% | 3.73% |
Source: Ownwell
Property Tax Assessment Values Across Perry, Lake County, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Perry, Ohio. 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 Perry, 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. For instance, the median home price in Perry is $180,580, with tax bills ranging widely. The 25th percentile tax bill is $35, while the 75th percentile reaches $1,639, and the 90th percentile can be as high as $3,344. Interestingly, the highest and lowest median tax bills are both $178, found in the 44081 zip code. 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 Perry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Perry, Lake County, Ohio
Source: Ownwell
$111,175
$393,275
$675,375
Average Perry Assessed Value
$180,580
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 Perry, Lake County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44081 | $108,460 | $139,640 | $180,580 | $244,520 | $303,690 |
Source: Ownwell
Property Tax Bills Across Perry, Lake County, Ohio
In Perry, property tax bills are calculated based on the assessed value of your home, which is determined by the local county assessor. This assessed value is then multiplied by the local tax rate to determine your annual tax bill. For homeowners in Perry, the median home price is $180,580. The tax bills can vary significantly, with the 25th percentile paying around $35 and the 75th percentile facing bills up to $1,639. At the higher end, the 90th percentile of homeowners might see tax bills as high as $3,344. These property taxes fund essential community services such as schools, public safety, and infrastructure. Comparatively, Perry's property tax rate is notably lower than the national median property tax rate of 0.99%. This can make Perry an attractive place for homeowners who seek lower property tax burdens while still benefiting from the services funded by these taxes. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances more effectively.
Average Perry Tax Bill
$178
Average Lake County Tax Bill
$1,087
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Perry, Lake County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44081 | $15 | $35 | $178 | $1,639 | $3,344 |
Source: Ownwell