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West Cleveland News

Thursday, November 21, 2024

Analysis: Lorain County effective property tax rates outpaced the national average in Q2

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Mike Doran, Recorder of Lorain County | https://static.wixstatic.com/

Mike Doran, Recorder of Lorain County | https://static.wixstatic.com/

Property owners in Lorain County paid 1.6% of the value of their homes in property taxes in the second quarter of 2024, which is more than 1.4 times the national average, according to the real estate analysis posted by West Cleveland News.

The median sales price of a Lorain County home in the second quarter of 2024 was $190,000, based on data from the 1,178 properties sold during that time. In 2024, the median tax bill for the county was $2,993, which is 1.6% of the median value of the homes that were taxed.

This is 1.4 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Lorain County real estate data showed homeowners in Avon, Pheasant Run, and Wellington paid the highest rates.

The above article calculates the effective property tax rate for 2024 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Avon with some other cities belonging to Lorain County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2024.

CityQ2 2024 SalesQ2 2024 Median PriceMedian tax 2024Effective tax rate
Avon72$369,600$6,6741.8%
Pheasant Run11$156,000$2,8351.8%
Wellington30$175,000$3,1791.8%
Eaton Estates10$119,750$2,0751.7%
Sheffield Lake32$173,000$2,7841.6%
Vermilion35$191,000$3,1181.6%
Avon Lake94$328,000$5,0751.5%
Elyria268$160,000$2,3701.5%
Grafton27$260,000$3,7971.5%
Columbia Station21$298,000$4,1731.4%
Lorain326$129,450$1,6871.3%
North Ridgeville148$307,500$4,0411.3%
Oberlin23$250,000$3,3591.3%
Amherst44$253,750$3,1761.3%
South Amherst11$181,500$2,3681.3%
LaGrange13$320,000$4,2691.3%
Sheffield7$389,900$4,4891.2%
Brentwood Lake3$270,000$2,8571.1%

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