Property Tax rates in Ohio

[Michael McDonald]

Can anyone shed light as to why the property tax on a 500k multi unit would be 13.5k?

I found a property that looks like a great deal on the surface but when i run the numbers the taxes kill it. Is this just an Ohio thing? I read that Ohio rates are very high around 1.6%, but this seems to be 2.7%. Is there anyway to verify?

[Sudhanshu Singha]

@Michael McDonald Go the the local website of the jurisdiction where the property you are interested in is located. You should be able to find the rate there but the format may be a little different. For example you may find that instead of the website saying that the property tax rate is X.X% it says something like the tax rate is $X.XX for every $100 dollars of assessed value. I am from Virginia so I am not sure whether that rate is high or not for Ohio but I do know in new jersey they have property taxes in many jurisdictions which are 2.0% or higher of assessed value.