The Observation Deck

See this site for some interesting information of property taxes around the country:

http://www.forbes.com/forbeslife/reales ... peed=15000

Those communities listed as having the highest property taxes have tax rates that are less than Lakewood's property tax rate.

Those communities listed as having the highest property taxes take a smaller percentage of residents income than Lakewood's take.

For example: Median income in Lakewood $30,000, median single family home value $150,000. Property taxes paid: $3,750, percentage of income: 12%

In some of the communities listed as having "sky high" property taxes residents are paying 8% of their income in property taxes.

Bill Call wrote: For example: Median income in Lakewood $30,000, median single family home value $150,000. Property taxes paid: $3,750, percentage of income: 12%

In some of the communities listed as having "sky high" property taxes residents are paying 8% of their income in property taxes.

Just did a very quick check on Lakewood Median Household Income http://neocando.case.edu/cando/index.jsp

Quick profile of Lakewood shows a median Household Income, for 2000 is $52,598. Assuming single family home value is accurate, assuming taxes paid are accurate, it gives 7.13% of income. And I would contend, that if only median household income of owners of single family homes was used, the percent of income used to pay property taxes would be even lower.

And of course, that's just property taxes. Many New Yorkers and New Jerseyites would trade their property taxes in a heartbeat if they could get their state, county, and local taxes down to Ohio levels.

Lakewoods per pupil spending is nowhere near out of line with the rest of the county or other urban distracts in Ohio. We can have lower property taxes almost instantaneously if we just put a factory at Lakewood Park, some big box stores where Winterhurst is, some office towers right there at I-90 and McKinley and on and on. Why do we have that stupid hospital in the middle of town? Who has a DOWNTOWN HOSPITAL? Bulldoze more homes put up more businesses and your property taxes come down. Easy.

High property taxes are the tradeoff for living in a town without business. Bay Village makes the same tradeoff and their taxes are now higher than ours. We have a lake and Solon doesnt, so Lakewoods police department has a boat, Solons doesn't. Its just the nature of where we live and I dont see that its a lot different than it has ever been. We have the city we want. Why is this news?

Richard Cole wrote: Quick profile of Lakewood shows a median Household Income, for 2000 is $52,598. Assuming single family home value is accurate, assuming taxes paid are accurate, it gives 7.13% of income. And I would contend, that if only median household income of owners of single family homes was used, the percent of income used to pay property taxes would be even lower.

First, thanks for keeping me honest. If no one checks the numbers it's easy to get sloppy.

See this site:

http://tax.ohio.gov/divisions/tax_analy ... y2cy05.stm

According to the income tax returns filed in 2005 the Federal median adjusted gross income in Lakewood was $30,344. I think it is important to use the median rather than the average. I also think the it is more valid to use the median income on the tax returns filed rather than the more nebulous household income. But that point is rebuttable.

The point is that an accurate affect of taxation on a family budget should measure total taxes as a percentage income.

The more important point is that Lakewood's ranking in Ohio in family income continues to decline. aka the City is getting poorer.

Dee Martinez wrote:And of course, that's just property taxes. Many New Yorkers and New Jerseyites would trade their property taxes in a heartbeat if they could get their state, county, and local taxes down to Ohio levels.

See this:

http://www.taxfoundation.org/taxdata/show/474.html

Bill Call wrote:According to the income tax returns filed in 2005 the Federal median adjusted gross income in Lakewood was $30,344.

Important qualifier - Adjusted. The Forbes site linked to did not use adjusted gross income, or at least did not claim to. Comparing Apples to Oranges will give erroneous conclusions.

The wider point, Lakewood's ranking, is a function of the growth of exurban communities in Lorain, Geauga, Medina etc. Unabated growth and sprawl has had, and will continue to have, detrimental effects on the urban core.