Mayfield Heights, Ohio Property Taxes
The median property tax rate in Mayfield Heights, OH is 2.53%, 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 Heights at $362,350, the typical annual property tax bill reaches $9,164, far exceeding the national median of $2,690. Property taxes in Mayfield Heights 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 Heights' 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 Heights 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 Heights, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$9,167
$8,507
Ownwell’s Mayfield Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mayfield Heights with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mayfield Heights 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 Heights, Ohio
Property taxes in Mayfield Heights, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mayfield Heights is 2.53%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mayfield Heights set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mayfield Heights 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. For comparison, the 44143 zip code has the highest median property tax rate of 2.53%, while the same zip code also has the lowest median tax rate of 2.53%. Understanding how these cities compare with Mayfield Heights 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 Heights Tax Rate
2.53%
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 Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44143 | 2.51% | 2.51% | 2.53% | 2.54% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Mayfield Heights, Ohio
In Mayfield Heights, 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 Heights, 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 Heights helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 44143 has the highest median tax bill at $9,164, which is significantly higher than the national median property tax rate.
Property Tax Assessment Values Across Mayfield Heights, Ohio
Source: Ownwell
$1,700
$1,166,850
$2,332,000
Average Mayfield Heights Assessed Value
$362,350
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 Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44143 | $332,820 | $344,400 | $362,350 | $369,550 | $378,190 |
Source: Ownwell
Property Tax Bills Across Mayfield Heights, Ohio
In Mayfield Heights, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of the property and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to compute the annual tax bill. In Cuyahoga County, where Mayfield Heights is located, the median home price is $362,350, and the property tax rate is significantly higher than the national median of 0.99%. Homeowners in Mayfield Heights can expect their annual tax bills to vary, with the 25th percentile at $8,826 and the 75th percentile reaching $9,289. The highest median tax bill recorded in the area is $9,164. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. High property taxes can be a financial burden but also reflect a community's investment in maintaining and improving local amenities.
Average Mayfield Heights Tax Bill
$9,164
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 Heights, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44143 | $8,407 | $8,826 | $9,164 | $9,289 | $9,559 |
Source: Ownwell