45341 Property Tax Rate

Property owners in ZIP code 45341 (Medway, Ohio) pay a median of $1,616/year in property taxes on homes valued at $127,200. This translates to an effective tax rate of 1.27%, which is near the Ohio state average of 1.24%.

The monthly property tax burden for a median-valued home in 45341 is approximately $135, which factors into escrow payments on mortgages. This ZIP code is located within Clark County. This is $688 less than the Ohio average of $2,304/year.

Compared to similar ZIP codes in Ohio, 45341 has higher property taxes. ZIP codes with similar effective rates include 44403 (1.27%) and 44867 (1.27%).

In Medway, property taxes represent approximately 2.8% of the median household income of $57,800, providing context for the relative tax burden on homeowners in this area.

Ohio reassesses property at each sale, with the county auditor conducting triennial revaluations for existing owners; your purchase price becomes the new assessed value. Clark County homeowners receive a 2.5% Owner-Occupancy Credit on all primary residences, and those 65+ or disabled qualify for the Homestead Exemption — the credit alone saves approximately $35 annually on the median-priced home. File your homestead and credit application with the Clark County Auditor immediately after closing.