Cleveland, Ohio Property Taxes
The median property tax rate in Cleveland, OH is 2.07%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Cleveland, the typical annual property tax bill reaches $8,013, far exceeding the national median of $2,690. Property taxes in Cleveland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cleveland'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 Cleveland 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
Cleveland, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.07%
Estimate Property Tax Bill
$8,027
$7,449
Ownwell’s Cleveland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cleveland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cleveland 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 Cleveland, Ohio
Property taxes in Cleveland, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cleveland is 2.07%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cleveland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cleveland 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 Cleveland's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44115 has both the highest and lowest median property tax rate of 2.07%. Understanding how these areas compare with Cleveland provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cleveland Tax Rate
2.07%
Average Wood County Tax Rate
1.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cleveland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44115 | 2.07% | 2.07% | 2.07% | 2.07% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Cleveland, Ohio
In Cleveland, 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 Wood 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 Cleveland, 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. The highest and lowest median tax bills in Cleveland are both $8,013, found in the 44115 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 Cleveland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cleveland Assessed Value
$387,800
Average Wood County Assessed Value
$163,900
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cleveland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44115 | $387,800 | $387,800 | $387,800 | $387,800 | $387,800 |
Source: Ownwell
Property Tax Bills Across Cleveland, Ohio
In Cleveland, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The tax rate, set by local taxing authorities, is then applied to this assessed value. For instance, in Wood County, homeowners face a median property tax bill of $8,013, significantly higher than the national median property tax rate of 0.99%. Various factors influence the tax bill, including the property's location, size, and any improvements made. Homeowners in Cleveland should be aware that their property tax bill can have a substantial impact on their overall housing costs. With the median home price at $387,800, the property tax rate in this area can make a significant difference in annual expenses. Understanding how these taxes are calculated helps homeowners plan their finances more effectively and consider potential savings through exemptions or appeals.
Average Cleveland Tax Bill
$8,013
Average Wood County Tax Bill
$2,615
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cleveland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44115 | $8,013 | $8,013 | $8,013 | $8,013 | $8,013 |
Source: Ownwell