Property Tax Calculator: How Much Will You Pay?

2024 is a sexennial (six years) reappraisal year in which Cuyahoga County reevaluates all properties in the county. It’s coming this summer.

Homeowners are expected to see reappraisals go up by as much as 30 per cent. The last reappraisal was in 2017. Reappraisals went up by about 16 per cent. But because of the recent surge in home prices, you may expect to see much larger increases.

That means if your home is currently appraised at $250,000, a 30 per cent reappraisal increase will place its value at $325,000.

If a Westlake home has a current appraisal of 250,000, taxes may be expected to currently be $4848 annually. If the new appraisal raises the home’s value to $325,000 (a 30 percent increase) taxes will rise to $6302.

If a Bay Village home has a current appraisal of $250,000 current taxes are probably about $6999. If the new appraisal raises the home’s value to $325,000 (a 30 percent increase) taxes will rise to $9099.

Sticker shock anyone?

How Are Taxes Calculated?

Residents often ask how property taxes are calculated. Here is an example for a Bay Village $100,000 home (as posted by The City of Bay Village):

Take 35% of Fair Market Value = $35,000
Multiply #1 by the Residential millage for Bay Village (169.76) (City millages will vary).
35,000 x .16976 =$5,941
Reduce by the 920 Reduction (.479235) 5,941 *.479235 = $2,847
Reduce by 10% if owner occupied and non-business ((5,941-2847) *.10=$309)
$5,941-2,847-309 = $2,785 – estimate for full year.

To simplify: for a residential property simply take the Market Value multiplied by the Tax as a Percentage of Market Rate (2.79%) = $100,000 *.0279 = $2,790.

There is a calculator available on the Cuyahoga County Fiscal Officer site. It applies to all communities. Visit it to calculate your property taxes for any community in Cuyahoga County: fiscalofficer.cuyahogacounty.us/en-US/property-tax-calculator.aspx