Lake County’s Triennial Update…part 2

Researched and written by Brian Massie, Executive Director
December 8, 2021

In part 1, we tried to provide the details on how we created the database of the revaluation of the land and residential buildings for all of Lake County. The revaluations of both land and buildings amounted to a 17.32% increase for the Triennial Update.

The overall increase in the assessed values [Appraised values x 35%] was 18.82%. Therefore, we calculated that ~92% of the increase was due to the Auditor increasing the property values and ~8% are the net of new and demolished buildings.

Here is a schedule of the assessed values for the tax year 2021 / collection year 2022. You can use the “+” or “-” to increase or decrease the image size.

It is interesting to note that the residential property has increased to 77.23% of the total assessed values including agriculture, commercial, industrial and public utilities.

This is ~3% increase over the 74.41% amount in the 2020 / 2021 year.

Here is the same schedule sorted by residential % of total.

The City of Mentor is generally thought to have the “right” balance of residential versus commercial / industrial property. Their residential property is 75.48% of their total assessed values.

Here are the schedules for all of the Lake County School Districts comparing assessed values by category for the years 2019 – 2020, 2020 – 2021, 2021 – 2022.

The Kirtland School District is the leader with 87.48% of their assessed values in residential property, followed by the Riverside School District with 85.02%.

I have been raising the caution flag for quite some time on the ever-increasing property taxes pricing seniors and those living on fixed incomes out of their homes that they have worked all their lives to achieve. The Lake County Auditor’s office is working on the new property tax calculations based on the revaluations and the recently passed levies. It is impossible at this time to determine an individual parcel’s new annual tax because of the various tax levies in each taxing district. However, do not expect a property tax decrease.

If you are interested in seeing the new assessed values for the Lake County Financing District and the Auburn Career Center, please let us know via email. []




Categories: Lake, Lake County Cities & Townships, Ohio Counties

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3 replies

  1. It’s hard to find knowledgeable people on this topic, but you sound like you know what you’re talking about! Thanks

  2. I truly appreciate this post. I have been looking all over for this! Thank goodness I found it on Bing. You have made my day! Thanks again

  3. Do you feel a little sheepish now about trying to overthrow the U.S. government?

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