Property Tax
Property tax in Willowick is administered by the Lake County Auditor's office. Assessed values are established by the County Auditor at 35% of the appraised market value. This value is updated every three years based on the average sales price of properties sold within the previous three-year period. Every six years, auditors revisit all properties to re-appraise the value to reflect any major improvements or additions. This re-appraisal was conducted in 2006. For tax collection year 2010, the effective tax rate for Willowick residential properties is 68.600709 mills ($68.60 per $1,000 of assessed value). A home with a market value of $100,000 would have an assessed value of $35,000 (market value multiplied by 35%) and the property taxes would be $2,401.02 ($35,000 divided by $1,000 and then multiplied by $68.60) annually. As a result of the 12.5% reduction (rollback) given to all owner-occupied residential properties, a homeowner will pay 87.5% or $2,100.89 of the property tax and the State will pay the remaining 12.5% or $300.13.

         

 

The City receives 26.5% of a homeowner's total property tax with the remainder being distributed between the Willoughby-Eastlake School District, Willoughby-Eastlake Library and Lake County as shown in the chart above. For real property information, contact the Lake County Auditor's office at (440)918-2532 or at http://www.lakecountyohio.org