Brady Lake, Ohio Property Taxes
The median property tax rate in Brady Lake, OH is 2.25%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Brady Lake being $94,800, the typical annual property tax bill reaches $1,768, which is below the national median of $2,690. Property taxes in Brady Lake 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 Brady Lake'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 Brady Lake 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
Brady Lake, 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 Brady Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brady Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brady Lake 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 Brady Lake, Ohio
Property taxes in Brady Lake, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brady Lake is 1.57%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Brady Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brady Lake 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 Brady Lake's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44211 zip code has the highest median property tax rate of 2.25%, while the same zip code also has the lowest median tax rate of 2.25%. Understanding how these cities compare with Brady Lake provides valuable insights into the varying tax landscape across Portage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brady Lake Tax Rate
2.25%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brady Lake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44211 | 1.73% | 1.99% | 2.25% | 2.43% | 2.54% |
Source: Ownwell
Property Tax Assessment Values Across Brady Lake, Ohio
In Brady Lake, 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 Brady Lake, 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 Brady Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Brady Lake, the median home price is $94,800. The 25th percentile tax bill is $1,250, while the 75th percentile tax bill is $2,366, and the 90th percentile tax bill reaches $2,753. The zip code with both the highest and lowest median tax bill is 44211, with a median tax bill of $1,768.
Average Brady Lake Assessed Value
$94,800
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 Brady Lake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44211 | $51,590 | $75,575 | $94,800 | $104,400 | $111,060 |
Source: Ownwell
Property Tax Bills Across Brady Lake, Ohio
In Brady Lake, Portage County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. This assessed value is a percentage of the property's market value. Homeowners in Brady Lake see property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is $1,250, while at the 75th percentile, it rises to $2,366, and at the 90th percentile, it can reach up to $2,753. Several factors influence these tax bills, including the property's assessed value, the local tax rate, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Brady Lake may find their tax rates to be competitive or higher, depending on the specific assessed value and tax rate applied. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Brady Lake Tax Bill
$1,768
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Brady Lake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44211 | $1,006 | $1,250 | $1,768 | $2,366 | $2,753 |
Source: Ownwell