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Taxes

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State Taxes

The State of Ohio's taxation system is business friendly. For instance, there are no taxes on corporate or franchise profits, new machinery and equipment, or inventory. For more insight into Ohio's tax policy, please see this piece from JobsOhio: https://www.jobsohio.com/blog/posts/ohios-tax-policy-about-results-not-philosophies-2/

For more information on business taxes in the State of Ohio, please see the Department of Taxation's website: https://www.tax.ohio.gov/Business.aspx

County Sales Tax

Lake County imposes a 7% sales tax, which puts it in the middle of various county rates across Ohio: https://www.tax.ohio.gov/Portals/0/tax_analysis/tax_data_series/sales_and_use/Salestaxmap.pdf

Income Tax

Some municipalities in Lake County do impose an income tax.

 

Location Rate

Eastlake

2%

Fairport Harbor

2%

Grand River

2%

Kirtland

2%

Madison Village

1%

Mentor

2%

Mentor-on-the-Lake

2%

North Perry Village

1%

Painesville

2%

Painesville-Concord JEDD

1.75%

Perry Village

2%

Timberlake

1%

Wickliffe

2%

Willoughby

2%

Willoughby Hills

2%

Willowick

2%

Real Estate Taxes

The following table shows real property taxes as computed in Lake County:

 

Real Estate Taxes
District Name County Township Municipal Library District School Lake City Finanace District Total per $1,000 Residential/ Agricultural Effective Rate Commercial/ Industrial Effective Rate

Madison Township

15.30

14.95

  

2.25

58.63

4.90

104.01

69.501445

76.648734

Madison Village

15.30

0.95

2.00

2.25

58.63

4.90

92.01

61.004374

66.427725

Perry Township

15.30

3.60

  

1.00

44.20

4.90

77.90

53.525762

66.963608

Perry Village

15.30

1.30

2.30

1.00

44.20

4.90

77.90

53.525762

66.963608

North Perry Village

15.30

1.30

2.30

1.00

44.20

4.90

77.90

53.525762

66.963608

Leroy Township

15.30

11.90

  

1.82

54.75

4.90

90.17

60.828070

60.971130

Concord Township/Painesville

15.30

10.40

  

1.82

54.75

4.90

88.67

61.436864

63.150521

Concord Township/Chardon

15.30

10.40

  

1.82

70.88

  

99.90

60.593355

66.476090

Concord Township/Mentor

15.30

10.40

  

2.00

77.80

  

105.50

65.087738

75.367189

Painesville Township

15.30

13.45

  

1.82

54.75

4.90

91.72

61.635447

64.512931

Painesville Township/Fairport

15.30

13.45

  

1.84

89.40

  

121.49

80.729237

91.621089

Grand River Village

15.30

0.50

7.50

1.82

54.75

4.90

86.27

57.771594

60.615271

Fairport Harbor Village/Port Auth.

15.30

0.50

9.56

1.84

89.40

  

118.10

79.893396

89.246194

Painesville City

15.30

3.70

  

1.82

90.72

4.90

117.94

72.252589

96.089033

Mentor City

15.30

4.50

  

2.00

77.80

  

99.60

58.403716

69.022844

Mentor-on-the-Lake City

15.30

24.00

  

2.00

77.80

  

119.10

67.177907

79.061256

Kirtland City

15.30

11.05

  

1.00

78.69

  

107.54

68.839147

68.888414

Willoughby City/Kirtland

15.30

8.53

  

1.00

78.69

  

105.02

67.700628

67.914148

Kirtland Hills Village/Mentor

15.30

18.00

  

2.00

77.80

  

113.10

72.687738

82.967189

Kirtland Hills Village/Kirtland

15.30

18.00

  

1.00

78.69

  

114.49

79.562848

79.266527

Waite Hill Village/Kirtland

15.30

16.00

  

1.00

78.69

  

112.49

77.562848

77.266527

Waite Hill Village/Willoughby

15.30

16.00

  

2.30

60.52

  

94.12

79.674275

79.031893

Willoughby City

15.30

8.53

  

2.30

60.52

  

86.65

69.812055

69.679514

Willowick

15.30

19.50

  

2.30

60.52

  

97.62

81.968989

81.687042

Wickliffe City

15.30

8.09

  

2.90

75.21

  

101.50

69.112295

82.908330

Lakeline Village

15.30

8.00

  

2.30

60.52

  

86.12

71.674275

71.031893

Willoughby Hills City

15.30

7.30

  

2.30

60.52

  

85.42

70.974275

70.331893

Timberlake Village

15.30

21.20

  

2.30

60.52

  

99.32

80.877305

84.231893

Eastlake City

15.30

8.30

  

2.30

60.52

  

86.42

69.512132

69.352719

Painesville City/P'ville Twp.

15.30

3.70

  

1.82

54.75

4.90

81.97

54.418177

56.444900

Willowick City/Kirtland

15.30

19.50

  

1.00

78.69

  

115.99

79.857562

79.921676

Eastlake City/Kirtland

15.30

8.30

  

1.00

78.69

1.50

104.79

67.400705

67.587353

Find your appropriate taxing district on the chart above. Multiply the assessed valuation (35% of the market value) by the effective rate for your taxing district and divide by 1,000 (effective rates are per $1,000 of valuation). As an example, a Mentor homeowner with an assessed valuation of $42,000 ($120,000 market value times 35%)
would multiply the $42,000 by the effective residential rate of 58.403716 for the City of Mentor and then divide by 1,000 which results in $2,452.96. A 10% reduction
in real estate taxes is provided by the State of Ohio for all residential/agricultural property in the State and an additional 2.5% reduction is provided for owner-occupied residences. Therefore, in the example above, an additional 10% or $245.30 and another 2.5% or $61.32, or a total of $306.62, would be deducted from the $2,452.96 amount, which equals a net tax of $2,146.34. This amount would be for a full year of taxes.

Lake County Auditor

Please visit the Lake County Auditor's website for more information on local taxes.