Property Taxes in Cleveland

[Johnny Weekend]

Hi

What has everyone experience been in regards to property taxes in Cleveland. I saw James Wise quote the current taxes however if the property sells for a new higher price won't the property taxes be based on the new market assessment (new market price) and thus much higher? 

Thank you

[Robert Matelski]

Originally posted by @James Wise:

Originally posted by @Johnny Weekend:

Hi

What has everyone experience been in regards to property taxes in Cleveland. I saw James Wise quote the current taxes however if the property sells for a new higher price won't the property taxes be based on the new market assessment (new market price) and thus much higher? 

Thank you

 The county re-appraises all properties every few years. I think it's every 3 years, could be 6 though so don't quote me I can't remember off of the top of my head. When a sale is made yes that could lead them to re-appraise the tax value of that property as well. Check out The Ultimate Guide to Grading Cleveland Neighborhoods as I have put the tax rate of every neighborhood in the Cleveland market in there.

They conduct a full-reappraisal every 6 years. The most recent one happened last year, for 2018 valuations (applicable for taxes paid in 2019). At the mid-point (i.e. 3 years in) they only do an adjustment, but it is not based on a full evaluation/reassessment of each individual property -- a flat percentage is simply applied to a specific area to either increase all the values or decrease all the values based on recent trends. The next full reappraisal won't occur until 2024, but there will be some valuation adjustments made in 2021.