Mayfield Hts, Ohio Property Taxes
The median property tax rate in Mayfield Heights, OH is 2.51%, 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 $303,600, the typical annual property tax bill reaches $7,211, 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 Hts, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$7,620
$7,071
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 Hts, Ohio
Property taxes in Mayfield Heights, Ohio, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Mayfield Heights is 2.51%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mayfield Heights set these rates annually, and they can vary 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. The data below compares Mayfield Heights' effective property tax rate to other areas in Cuyahoga County and the national median. For comparison, the 44124 zip code has the highest median property tax rate of 2.53%, while the 44143 zip code has the lowest median tax rate of 2.51%. Understanding how these areas 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 Hts Tax Rate
2.51%
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 Hts, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44124 | 2.49% | 2.50% | 2.53% | 2.56% | 2.59% |
| 44143 | 2.30% | 2.32% | 2.51% | 2.52% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Mayfield Hts, Ohio
In Mayfield Heights, Ohio, understanding the difference between "market value" and "assessed value" is essential 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. For instance, the highest median tax bill in the area is $7,409 in zip code 44143, while the lowest median tax bill is $4,305 in zip code 44124. 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.
Average Mayfield Hts Assessed Value
$303,600
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 Hts, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44124 | $1,200 | $1,200 | $193,000 | $499,900 | $628,060 |
| 44143 | $213,020 | $271,775 | $309,000 | $348,275 | $369,310 |
Source: Ownwell
Property Tax Bills Across Mayfield Hts, Ohio
In Mayfield Heights, located in Cuyahoga County, OH, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value determined by the county assessor. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For homeowners in Mayfield Heights, the median home price is $303,600. Property tax bills can vary significantly, with the 25th percentile at $5,478 and the 75th percentile reaching $8,686. The 90th percentile tax bill can be as high as $10,517. These figures are higher than the national median property tax rate of 0.99%, reflecting the relatively high property values and tax rates in the area. Homeowners in the highest median tax bill zip code (44143) see bills around $7,409, while those in the lowest (44124) pay about $4,305. Understanding these factors can help homeowners better anticipate their annual tax obligations.
Average Mayfield Hts Tax Bill
$7,211
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 Hts, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44124 | $30 | $30 | $4,305 | $12,788 | $15,700 |
| 44143 | $5,319 | $6,490 | $7,409 | $8,309 | $9,253 |
Source: Ownwell