How to Calculate Your Property Taxes
Three easy steps to estimate property taxes for your home:
- Estimate the fair market value of your home. For a more accurate result use the market value of your home as set by the County Auditor’s Office, call (216) 443-7092
- Use your market value of your home and multiply that by your Taxing District’s “tax as a % of market” figure (as shown in the table below).
- The sum of step 2 is a estimate of your yearly taxes. Please remember there are additional factors that may not be included such as special assessments and Homestead exemption figures.
Voted Tax Rate: The Voted Tax Rate is the total rate approved by the voters in your taxing district for support of your school district, library, municipality, vocational school, community college, metropark system and county-wide services. This rate also includes 10 mills of unvoted taxes guaranteed by the Ohio Constitution.
Effective Tax Rate: The Effective Tax Rate is your tax rate after the tax reduction factor is applied. You are protected from unvoted increases in taxes by Ohio Legislation known as House Bill 920. Passed in 1976, HB 920 reduces your rate as property values in your district increase during triennial reappraisals and updates.
Tax as a percentage of Market: The Tax as a percentage of market is a simple percentage used to estimate total property taxes for a property. Multiply the market value of the the property by the percentage listed for your taxing district. (See below: Tax as a % of Market)
Example Taxes for a $100,000 home:
|Cleveland||$100,000 x 1.92% = $1920 annual property tax bill|
|Parma||$100,000 x 1.92% = $1920 annual property tax bill|
|Euclid||$100,000 x 1.98% = $1980 annual property tax bill|
|Lakewood||$100,000 x 2.49% = $2490 annual property tax bill|
Additional factors affecting your tax bill:
Special Assessments: charges by your city or county to cover the cost of improvements or services.
Homestead Exemption: a reduction in property taxes available to all Ohio citizens 65 years of age and older, and disabled homeowners. For more information regarding the Homestead Exemption call (216) 443-7050.
|Taxing District||Voted Tax Rate||Effective Tax Rate||Tax as a % of Market|
|Broadview Hts/N. Royalton||91.20||60.61||1.86%|
|Chagrin Falls Twp||129.70||66.50||2.04%|
|Chagrin Falls Village||140.10||74.54||2.28%|
|Cleveland Hts/E. Cleveland||130.20||70.39||2.16%|
|Fairview Park/Rocky River||113.20||67.44||2.07%|
|Moreland Hills/C Falls||135.80||72.60||2.22%|
|N Olmsted/Olmsted Falls||127.60||74.69||2.29%|
|Richmond Hts/S Euclid-lynd.||133.40||77.41||2.37%|
|South Euclid/Clev Hts||175.50||92.57||2.83%|