Mentor On The Lake, Lake County, Ohio Property Taxes

Name: Property Tax Bills Across Mentor On The Lake, Lake County, Ohio
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Mentor on the Lake, OH effective property tax rate: 1.96%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Mentor on the Lake, OH home value: $138,630
Median annual Mentor on the Lake, OH tax bill: $2,153, $247 lower than the national median property tax bill of $2,400.

How are property taxes in Lake calculated?

Property taxes in Mentor on the Lake, OH are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Mentor on the Lake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mentor on the Lake, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Mentor On The Lake, Lake County, Ohio Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.96%

Estimate Property Tax Bill

$2,717

$2,521

Ownwell’s Mentor on the Lake Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mentor on the Lake with just two data points. By entering your property's estimated assessed value, our calculator applies Mentor on the Lake’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lake County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Mentor On The Lake, Lake County, Ohio

Local government entities determine tax rates, which can vary significantly within Ohio. Annually, each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual procedure. In Mentor on the Lake, located in Lake County, the effective property tax rate is 1.96%, which is considerably higher than the national median property tax rate of 1.02%. This positions Mentor on the Lake at the higher end of the spectrum in Ohio, reflecting the region's robust local government funding needs. The effective property tax rate here is the same as the highest and lowest rates in the state, indicating a uniformity in tax assessment within this area. When compared to the national median property tax bill of $2,400, residents in Mentor on the Lake are likely contributing more to support their local services.

Property Tax Rates Across Mentor On The Lake, Lake County, Ohio

Source: Ownwell

1.00%

1.79%

2.58%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Mentor On The Lake Tax Rate

1.96%

Median Effective Lake County Tax Rate

2.03%

Median Effective Ohio Tax Rate

1.80%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Mentor On The Lake, Lake County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
44060	0.49%	1.10%	1.96%	3.67%	5.99%

Source: Ownwell

Property Tax Assessment Values Across Mentor On The Lake, Lake County, Ohio

When examining property taxes in Mentor on the Lake, OH, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Lake County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Lake County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Mentor on the Lake. For example, the median home price in Mentor on the Lake is $138,630, with tax bills ranging significantly across the county. 44060 has the highest median home price at $138,630.

Property Tax Assessment Values Across Mentor On The Lake, Lake County, Ohio

Source: Ownwell

$111,175

$393,275

$675,375

Median Mentor On The Lake Market Value

$138,630

Median Lake County Market Value

$154,020

Median Ohio Market Value

$133,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Mentor On The Lake, Lake County, Ohio

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
44060	$79,196	$119,060	$138,630	$171,775	$201,490

Source: Ownwell

Property Tax Bills Across Mentor On The Lake, Lake County, Ohio

In Mentor on the Lake, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The median home price in the area is $138,630. The property tax rate in Ohio is applied to this assessed value to determine the annual tax bill. The median property tax bill in Lake County is $2,153, which is slightly below the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $1,350 and the 90th percentile reaching $7,109.

For homeowners, these taxes can represent a significant financial burden. Ownwell offers a solution by providing property tax appeal and exemption services. Our experienced team reviews your property assessment and identifies opportunities to reduce your tax bill. By leveraging our expertise, homeowners can potentially save a substantial amount on their property taxes, ensuring they pay only what is fair. Through a streamlined process, Ownwell helps alleviate the stress of high property taxes, allowing you to enjoy more financial freedom.

Property Tax Bills Across Mentor On The Lake, Lake County, Ohio

Source: Ownwell

$178

$9,225

$18,271

Median Mentor On The Lake Tax Bill

$2,153

Median Lake County Tax Bill

$1,087

Median Ohio Tax Bill

$2,396

Median United States Tax Bill

$2,400

Property Tax Bills Across Mentor On The Lake, Lake County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
44060	$382	$1,350	$2,153	$4,483	$7,109

Source: Ownwell