Berea, Ohio Property Taxes
The median property tax rate in Berea, OH is 1.59%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Berea, the typical annual property tax bill is $174, which is significantly below the national median of $2,690. Property taxes in Berea 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 Berea'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 Berea 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
Berea, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$175
$162
Ownwell’s Berea Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Berea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berea to provide an accurate estimate of your property tax bill. This resourceful tool helps you understand potential tax liabilities, offering a clear picture of what you might owe. For those interested in more granular details, you can scroll down to find localized information on neighborhood trends. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Berea, Ohio
Property taxes in Berea, Ohio, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Berea is 1.59%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Berea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berea 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 Berea's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44017 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Berea provides valuable insights into the varying tax landscape across Cuyahoga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berea Tax Rate
1.59%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berea, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44017 | 1.59% | 1.59% | 1.59% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Berea, Ohio
In Berea, 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 Portage 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 Berea, 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 Berea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Berea are both $174.00, found in the 44017 zip code.
Average Berea Assessed Value
$11,000
Average Portage County Assessed Value
$162,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berea, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44017 | $11,000 | $11,000 | $11,000 | $11,000 | $11,000 |
Source: Ownwell
Property Tax Bills Across Berea, Ohio
Property tax bills in Berea, located in Portage County, Ohio, are calculated based on the assessed value of a property. This assessed value is determined by the county assessor and typically represents a percentage of the property's market value. In Berea, the median home price is $11,000. The tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including property size, location, and market conditions. Homeowners in Berea can expect a median tax bill of $174, which aligns with both the 25th and 75th percentiles, indicating a consistent tax rate across different property values. Comparatively, this median tax bill is significantly lower than the national median property tax rate of 0.99%, providing a relatively affordable tax burden for homeowners in the area. Understanding these factors can help homeowners anticipate their annual expenses and plan their finances accordingly.
Average Berea Tax Bill
$174
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Berea, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44017 | $174 | $174 | $174 | $174 | $174 |
Source: Ownwell