Mayfield, Ohio Property Taxes
The median property tax rate in Mayfield, OH is 2.58%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Mayfield at $219,100, the typical annual property tax bill reaches $5,652, exceeding the national median of $2,690. Property taxes in Mayfield are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mayfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mayfield or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mayfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.58%
Estimate Property Tax Bill
$5,653
$5,246
Ownwell’s Mayfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mayfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mayfield to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Mayfield, Ohio
Property taxes in Mayfield, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mayfield is 2.58%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mayfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mayfield estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Mayfield's effective property tax rate to other areas in Cuyahoga County and the national median. For comparison, the zip code 44143 has the highest median property tax rate of 2.58%, while the same zip code also has the lowest median tax rate of 2.58%. Understanding how these cities compare with Mayfield provides valuable insights into the varying tax landscape across Cuyahoga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mayfield Tax Rate
2.58%
Average Cuyahoga County Tax Rate
2.64%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mayfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44143 | 2.30% | 2.34% | 2.58% | 2.60% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Mayfield, Ohio
In Mayfield, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Cuyahoga County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Mayfield, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Mayfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mayfield is $5652 in the 44143 zip code, while the lowest median tax bill is also $5652 in the same zip code.
Average Mayfield Assessed Value
$219,100
Average Cuyahoga County Assessed Value
$138,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mayfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44143 | $200,160 | $206,900 | $219,100 | $247,300 | $283,010 |
Source: Ownwell
Property Tax Bills Across Mayfield, Ohio
In Mayfield, Cuyahoga County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Mayfield is $219,100. Property taxes are determined by applying the local tax rate to the assessed value of the property. Various factors influence this tax bill, including the home's location within specific school districts, municipal services, and local government budgets. For homeowners in Mayfield, the property tax burden can vary significantly. At the 25th percentile, homeowners might see tax bills around $5,349, while those at the 75th percentile could face bills closer to $6,060. At the 90th percentile, tax bills can reach $7,021. This variability can impact homeowners' financial planning, influencing decisions on home improvements, budgeting, and even whether to buy or sell property. Compared to the national median property tax rate of 0.99%, Mayfield's rates can be relatively high, reflecting the community's investment in local services and infrastructure.
Average Mayfield Tax Bill
$5,652
Average Cuyahoga County Tax Bill
$3,544
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mayfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44143 | $5,068 | $5,349 | $5,652 | $6,060 | $7,021 |
Source: Ownwell