Elyria, Ohio Property Taxes
The median property tax rate in Elyria, OH is 1.90%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Elyria, the typical annual property tax bill reaches $1,954, falling below the national median of $2,690. Property taxes in Elyria 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 Elyria'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 Elyria 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
Elyria, 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 Elyria Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Elyria with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elyria to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and make informed decisions. For those interested in more localized information, you can explore trends on a neighborhood level by scrolling down. Your property’s assessed value is determined by Lorain County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Elyria, Ohio
Property taxes in Elyria, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elyria is 1.90%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elyria set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elyria 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 Elyria's effective property tax rate to other areas in Lorain County and the national median. For comparison, the 44074 zip code has the highest median property tax rate of 1.95%, while the 44035 zip code has the lowest median tax rate of 1.90%. Understanding how these areas compare with Elyria provides valuable insights into the varying tax landscape across Lorain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elyria Tax Rate
1.90%
Average Lorain County Tax Rate
1.82%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elyria, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44035 | 1.43% | 1.69% | 1.90% | 1.95% | 1.98% |
| 44074 | 1.95% | 1.95% | 1.95% | 1.95% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Elyria, Ohio
In Elyria, 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 Lorain 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 Elyria, 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. Elyria's median home price is $104,120. The 25th percentile tax bill is $1,377, while the 75th percentile tax bill stands at $2,690. The highest median tax bill is found in the 44035 zip code at $1,954, whereas the lowest median tax bill is in the 44074 zip code at $376. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elyria Assessed Value
$104,120
Average Lorain County Assessed Value
$141,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elyria, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44035 | $46,388 | $72,420 | $104,125 | $146,690 | $192,908 |
| 44074 | $19,300 | $19,300 | $19,300 | $19,300 | $19,300 |
Source: Ownwell
Property Tax Bills Across Elyria, Ohio
Property tax bills in Elyria, located in Lorain County, OH, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Elyria, the median home price stands at $104,120. Homeowners in the 25th percentile can expect a tax bill around $1,377, while those in the 75th percentile see bills closer to $2,690. For the top 10% of property values, tax bills can reach up to $3,490. The highest median tax bill in the area is $1,954 in the 44035 zip code, while the lowest is $376 in the 44074 zip code. Compared to the national median property tax rate of 0.99%, Elyria's tax rates reflect the region's property values and local fiscal policies, impacting homeowners differently based on their property's assessed value.
Average Elyria Tax Bill
$1,954
Average Lorain County Tax Bill
$2,507
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Elyria, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44035 | $962 | $1,377 | $1,954 | $2,690 | $3,490 |
| 44074 | $376 | $376 | $376 | $376 | $376 |
Source: Ownwell