To calculate Cleveland’s Property Transfer Tax, multiply the property’s sale price by the combined state and local rates. Ohio’s state tax is 0.75% on the first $500,000 and 1% thereafter, while Cleveland adds 1% on the first $500,000 and 2% beyond. For example, a $600,000 sale generates $375 (state) + $600 (local) = $1,050. The Maintenance Fund is calculated annually by multiplying the property’s assessed value (typically 50-60% of market value) by Cleveland’s 0.5% rate. A $100,000 assessed property pays $500 annually.

Property transfer taxes fund local infrastructure and services, while maintenance funds ensure long-term property preservation. Ohio Revised Code § 5301.13 mandates the state tax, and Cleveland City Code § 901.01 outlines local rates. As of 2023, Cleveland’s median assessed value is $60,000, yielding $300 annually for maintenance. Transfer taxes on a $600,000 sale total $1,050, reflecting 0.175% of the sale price. These structures balance immediate revenue and future obligations, ensuring equitable tax distribution. Data from the Cuyahoga County Assessor’s Office confirms assessed values averaging 55% of market rates, aligning with local tax calculations.