A 305/45R24 tire is 34.8 inches (884 mm) tall and 12.0 inches wide. The sidewall is 45% of the width, 5.4 inches, on a 24-inch wheel, and the tire turns about 579 times per mile.
In flotation terms that is about 34.8x12.0R24, closest to the common 35x12.50R24 (35.0"). People often call it a 35-inch tire.
The size most often compared with it is 35x12.50R24, which is 0.2" taller (+0.6%). At an indicated 60 mph you would be doing 60.3 mph on it.