Ohio's oldest tax, Real Property Tax, can sometimes be confusing- due to the payments being paid in arrears, as well as different reductions or assessments that may need to be accounted for. In this Month's Newsletter, the breakdown and due dates of Property Taxes will be further explained. All real property owners, who are not specifically exempt, are subject to the real property tax.
Due Dates
In the State of Ohio, property taxes are paid one year in arrears and are paid on a semi- annual plan.
The meaning of "in arrears" is behind with paying money that is owed. Due to the State of Ohio billing taxes one year in arrears, you are paying for the past year's taxes in the current year.
When reviewing a tax bill (shown below), it shows 2019 Taxes, Due and Payable 2020.
A semi-annual plan is when taxes are paid twice a year or half-yearly. Typically, taxes are due and payable on one designated date in the months of January or February (First Half) and in June or July (Second Half). This date is determined by the County around a month before the actual due date.
Below are a list of some of the Counties in Ohio, showing their First Half Due Date.
Cuyahoga County- Due on 01/23/2020
Geauga County- Due on 02/12/2020
Huron County- Due on 02/14/2020
Medina County- Due on 02/14/2020
Lorain County- Due on 02/14/2020
Erie County- Due on 02/14/2020
Ashtabula County- Due on 02/19/2020
Lake County- Due on 02/19/2020
Summit County- Due on 02/21/2020
Stark County- Due on 02/26/2020
Property Taxes are considered late and become delinquent the day after the due date.
There are no discounts for paying Property Taxes early.
Tax Base
Property tax is an ad valorem tax, or tax based on value. The Tax Base is the taxable, assessed, value of the land and improvements (building). This assessed value is 35% of the market value of the property, except for land that is devoted to agricultural use exclusively. The Tax Rates vary by taxing jurisdiction; a combination, unique to the jurisdiction, creates a separate taxing district. This combination is based upon School Districts, Counties, Municipalities, Townships, and Special Service Districts.
Exemptions and Credits
Governmental or Private Institutional Organizations' real property may be exempt based on how the property is used, as well as how it is owned. Ohio's Department of Taxation calculates effective tax rates, yearly, based on tax reduction factors. When applying tax reduction factors, real property is divided into two classes. Class I is residential and agricultural property. Class II is considered all other real property.
Homestead Reduction is available to the homesteads of qualifying homeowners, including:
at least 65 years of age
permanently or completely disabled
at least 59 years of age and are the surviving spouse of a deceased taxpayer who previously was receiving the exemption
The Homestead Exemption shields up to $25,000.00 of the taxable value from property taxation of an eligible taxpayer. Additional information regarding Homestead Reduction can be found at tax.Ohio.gov.
Special Assessments may occur on your Tax Bill. These Special Assessments are additional charges to the property taxes to fund a specific project. These Assessments are based on your tax jurisdiction and can be further explained by your County's Auditor Office.
For additional questions or explanations, please feel free to call us at (440) 835.4505.
If you are in need of a current Tax Bill or Copy of Current Vesting Deed, please visit our Tax & Legal page to request those. Requests can also be email to us at docs@erieviewtitle.com.