We expanded our research comparing the residential property tax rates for Northeast Ohio counties to the overall State of Ohio average.

Here is the link to our previous article comparing Lake County to the overall State of Ohio average: https://lobbyistsforcitizens.com/2019/10/20/state-of-ohio-property-taxes-how-does-lake-county-stack-up/

Kudos to NorthStar Title Services for their work in generating the following reports:
https://secure.nstitle.com/Default.aspx?tabname=Tax%20Rates

Here are the reports for the seven counties:
Ashtabula Property Tax Rates
Cuyahoge Property Tax Rates
Geauga Property Tax Rates
Lake Property Tax Rates
Lorain Property Tax Rates
Portage Property Tax Rates
Summit Property Tax Rates

We summarized the averages for each county and created this chart for comparison purposes:

The highest residential property tax rate in the seven county area is the taxing district South Euclid / Cleveland Heights at 4.31%!!!!  Compared to the State of Ohio average of 1.57, they are 174.5% [(4.31 – 1.57)/1.57] higher than the State average.  The annual property taxes for a $100,000 home in that taxing district is an unbelievable $4,310.00. ($100,000 x 4.31%)   In a little over 23 years the homeowners will have paid another $100,000 for the right to live in their home. ($100,000 / $4,310)

As we have said before, the American dream of home ownership is really just an illusion.  Even after the mortgage is paid, the property taxes must be paid forever.

Categories: Lake, Real Estate Taxes, Uncategorized

Tags: FT