Sheffield Lake, Lorain County, Ohio Property Taxes
Median Sheffield Lake, OH effective property tax rate: 2.05%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Sheffield Lake, OH home value: $112,400
Median annual Sheffield Lake, OH tax bill: $2,234, $166 lower than the national median property tax bill of $2,400.
How are property taxes in Lorain calculated?
Property taxes in Sheffield Lake, 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 Sheffield Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Sheffield Lake, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Sheffield Lake, Lorain County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.05%
Estimate Property Tax Bill
$2,304
$2,138
Property Tax Rates Across Sheffield Lake, Lorain County, Ohio
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 Sheffield Lake Tax Rate
2.05%
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 Lorain County Tax Rate
1.82%
Median Effective Ohio Tax Rate
1.80%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Sheffield Lake, Lorain County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44054 | 1.64% | 2.05% | 2.05% | 2.10% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Sheffield Lake, Lorain County, Ohio
When examining property taxes in Sheffield Lake, 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 Lorain 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.
Assessment notices: In Lorain 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 Sheffield Lake.
For example, the median home price in Sheffield Lake is $112,400, with tax bills ranging significantly across the county. Zip code 44054 has the highest median home price at $112,405.
Property Tax Assessment Values Across Sheffield Lake, Lorain County, Ohio
Source: Ownwell
$15,750
$159,090
$302,430
Median Sheffield Lake Market Value
$112,400
Median Lorain County Market Value
$141,300
Median Ohio Market Value
$133,400
Median United States Market Value
$235,294
Property Tax Assessment Values Across Sheffield Lake, Lorain County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44054 | $33,750 | $91,840 | $112,405 | $140,685 | $186,943 |
Source: Ownwell
Property Tax Bills Across Sheffield Lake, Lorain County, Ohio
In Sheffield Lake, located in Lorain County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This value is then multiplied by the property tax rate to determine the annual tax bill. In Sheffield Lake, the median home price is $112,400, and the median property tax bill is $2,234, which is slightly below the national median of $2,400. Homeowners in the area may receive tax bills ranging from the 25th percentile at $1,730 to the 90th percentile at $3,759, reflecting variations based on property value and applicable exemptions.
For homeowners, these taxes represent a significant annual expense. However, Ownwell can assist by reviewing your property’s assessed value and identifying opportunities to appeal for a reduction. By leveraging their expertise in property tax laws and local market conditions, Ownwell can help ensure that you are not overpaying, potentially saving you hundreds or even thousands of dollars on your property tax bill.
Median Sheffield Lake Tax Bill
$2,234
Median Lorain County Tax Bill
$2,507
Median Ohio Tax Bill
$2,396
Median United States Tax Bill
$2,400
Property Tax Bills Across Sheffield Lake, Lorain County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44054 | $681 | $1,730 | $2,234 | $2,804 | $3,759 |
Source: Ownwell