Cleveland Property Tax Assessment Questions

[JC Chavez]

I have a couple of questions regarding property taxes and value assessment in Cuyahoga County, OH. 

1) Is a 5+ multi-family apartment building considered 'Commercial' or 'Residential' in the eyes of the county assessor? I see there are 2 different tax rates depending on whether it is commercial or residential. Can someone who is familiar with the area tell me what township/neighborhood the zip code 44108 in? The pdf doesn't show it by zip code, just township.

2) Is the county property value reassessed on sale or does the same value, thus yearly tax burden remain the same even after new ownership? And if the property value is reassessed after sale, what is the new value? Is it based on the actual sales price or based on a new appraisal from the county?

Below is a snippet of the pdf and a link to the actual Cuyahoga county rates of taxation for 2020-21. 

https://treasurer.cuyahogacoun...

[Michael Magno]

5 units is commercial. 

The county reassesses properties every 3 years, unless the taxing school district initiates a re-assessment. The can petition following the sale of a property for new taxes. You can contest it during Jan-Mar. 

[David Terbeek]

Zip code 44108 is predominantly Glenville but for tax purposes, it is just Cleveland.  The tax value does not automatically change at sale, it is re-evaluated every 3 years.  The re-evaluation is based on the county appraisal, not necessarily from the sale itself.  However, if you attempt to appeal the value the sales price would become relevant.  Fyi, appeals can be filed January 1st to March 31st.

[Michael Swan]

Hi @JC Chavez

When we talk tomorrow we can discuss this too.  Some of the areas around Cleveland have some crazy high property taxes.  That was part of the reason we got out of Cleveland Heights and Shaker Heights too!! Besides some parts of Cleveland are not very Landlord friendly and it really showed throughout this Covid Pandemic too!! Not just JC, anybody on BP I have 9 Apartment complexes in these areas and have been investing their since 2014.  Reach out and message me.  I am not a broker or Real Estate Agent and am simply an investor.

I love to talk shop.  I just retired from my teaching job at 55 years old, due to my RE out in the Cleveland Area!! I really like the Lake County area out there.  Most of my 200 units are in Mentor and Painesville.  Those areas have been great for me! Don’t hesitate to reach out to me.

Swanny

[Allen McGlashing]

@Michael Swan

I am new to investing in the Cleveland area and have put out multiple offers while doing as much research as possible. I would love to connect and hear some of your experiences in this market, since you have had so much success in it.

[Michael Swan]

Hi@Allen McGlashing

Sure.  Send me a message ASAP.

Swanny

[Isabelle Castelain]

5+ is definitively commercial

what I would like to know is who to contact when your tax property looks incorrect ? I have a triplex in Glenville and this year the tax is x3.5 more than last year because of an increase in the home value . What can I do ? Thanks