Clayton, Ohio Property Taxes
The median property tax rate in Clayton, Ohio is 2.65%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $131,265 in Clayton, the typical annual property tax bill reaches $3,436, surpassing the national median of $2,690. Property taxes in Clayton are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clayton'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 Clayton 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
Clayton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$3,479
$3,228
Ownwell’s Clayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayton 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 Clayton, Ohio
Property taxes in Clayton, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clayton is 2.65%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Clayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayton 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 Clayton's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45315 zip code has both the highest and lowest median property tax rate of 2.65%. Understanding how these cities compare with Clayton provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clayton Tax Rate
2.65%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45315 | 2.13% | 2.64% | 2.65% | 2.70% | 2.87% |
Source: Ownwell
Property Tax Assessment Values Across Clayton, Ohio
In Clayton, 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 Montgomery County Auditor 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 Clayton, 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. The median home price in Clayton is $131,265, with property tax bills ranging from $2,572 at the 25th percentile to $7,550 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 45315, at $3,436. Being aware of these valuation processes in Clayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clayton Assessed Value
$131,265
Average Montgomery County Assessed Value
$98,910
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clayton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45315 | $69,289 | $103,582 | $131,265 | $188,822 | $281,678 |
Source: Ownwell
Property Tax Bills Across Clayton, Ohio
Property tax bills in Clayton, Montgomery County, Ohio, are determined by assessing the market value of a property and applying the local tax rate to this value. Homeowners in Clayton, where the median home price is $131,265, face property tax bills that can vary significantly. The tax bill for the 25th percentile is $2,572, while those at the 75th percentile pay around $5,075, and at the 90th percentile, the bill can rise to $7,550. These figures highlight the range of tax burdens depending on property values. Factors influencing the tax bill include the assessed value of the property, which is determined by the county's appraisal system, and the local tax rate. Compared to the national median property tax rate of 0.99%, Clayton's property taxes can be a significant expense for homeowners. This variability in tax bills can affect homeowners' monthly budgets and long-term financial planning, making it crucial for residents to understand how their property tax is calculated and what they can expect to pay annually.
Average Clayton Tax Bill
$3,436
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45315 | $1,775 | $2,572 | $3,436 | $5,075 | $7,550 |
Source: Ownwell