Cleveland, OH Res Prop taxes

[Nova Shank]

Quick question. Living here in Seattle, and looking at other markets, and while looking in Cleveland, I noticed that property taxes are sometimes twice as much as principle and interest on a 30 fixed. Can someone give me a quick run down on how that is possible? Our property taxes are around 1% per year of the assessed value, and in Cleveland I am seeing that property tax is around 5%. That seems extremely high.

[Tom Ott]

Originally posted by @Nova Shank:

Quick question. Living here in Seattle, and looking at other markets, and while looking in Cleveland, I noticed that property taxes are sometimes twice as much as principle and interest on a 30 fixed. Can someone give me a quick run down on how that is possible? Our property taxes are around 1% per year of the assessed value, and in Cleveland I am seeing that property tax is around 5%. That seems extremely high.

It depends on where you are looking. Are you looking at Shaker Heights and Lakewood? Those are some of the highest in the state. It depends on the city you are looking into. Cleveland has many suburbs which are all taxed differently. A place like Euclid or Bedford and not even going to come close to Shaker Heights or Lakewood. 

Also, often times they are WAY too high. You can challenge them pretty easily with a lawyer. I have seen many get their's lowered by a ton.