policy
Akron Property Tax Levy Ordinance Caps Residential Rates While Raising Commercial Assessments
The July 2026 levy will hold property tax bills steady for most Akron single-family homes under $250,000 assessed value while increasing payments for commercial properties by an average of 1.2 percent beginning with 2027 collections.
How we reported this
The Akron City Council approved the 2027 Property Tax Levy Ordinance on July 6, which sets a residential tax cap tied to inflation for homes assessed below $250,000 and applies a 1.2 percent rate increase to commercial and industrial parcels. The measure reallocates an estimated $12.4 million in new commercial revenue toward street maintenance and Akron Public Schools capital projects according to the city's fiscal impact statement released June 28.
State funding reductions outlined in the 2026 Ohio Biennial Budget have left the city facing a $8.7 million shortfall in local government fund distributions for the coming fiscal year. City finance officials prepared the levy after reviewing Summit County property valuation data that showed commercial assessments rising faster than residential ones over the past two years.
Effects on Akron Households and Businesses
Residents in West Akron and Firestone Park neighborhoods with typical single-family homes will see no increase beyond the 2.1 percent inflation adjustment already built into county assessments. A homeowner paying $2,850 in 2026 property taxes would pay approximately $2,910 in 2027 under the new cap. Commercial property owners along Main Street and in the downtown business district face higher bills that average $4,800 more per parcel based on the same county data.
Local advocates note that the ordinance directs the additional commercial revenue to road resurfacing contracts scheduled for 2027 in eight specific wards. The legislation states that 60 percent of the new funds must support Akron Public Schools building repairs rather than general operations.
City assessors will mail updated tax statements in December 2026 using the new rates. Property owners may appeal commercial valuations through the Summit County Board of Revision by March 2027. The ordinance requires the city finance department to issue a public report on actual collections by September 2027.