Manchester, Oklahoma Property Taxes
The median property tax rate in Manchester, OK is 0.76%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Manchester, the typical annual property tax bill amounts to $745, significantly below the national median of $2,690. Property taxes in Manchester are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Manchester's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Manchester 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
Manchester, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$876
Ownwell’s Manchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manchester 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 Manchester, Oklahoma
Property taxes in Manchester, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manchester is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Manchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manchester 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 Manchester's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73758 has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Manchester provides valuable insights into the varying tax landscape across Alfalfa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manchester Tax Rate
0.76%
Average Alfalfa County Tax Rate
0.87%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manchester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73758 | 0.29% | 0.45% | 0.76% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Manchester, Oklahoma
In Manchester, Oklahoma, 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 local 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 Manchester, 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 Manchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, zip code 73758 has the highest and lowest median tax bill at $745.
Average Manchester Assessed Value
$115,221
Average Alfalfa County Assessed Value
$48,960
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manchester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73758 | $58,490 | $71,442 | $115,221 | $187,344 | $202,984 |
Source: Ownwell
Property Tax Bills Across Manchester, Oklahoma
In Manchester, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is typically a percentage of the property's market value. Several factors influence this valuation, including the property's size, location, and condition. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. For homeowners in Manchester, the tax bills can vary significantly. At the 25th percentile, homeowners might pay around $336, while those at the 75th percentile could see bills as high as $1,405. The 90th percentile reaches up to $1,532. These figures highlight the range of property tax burdens within the area. Comparatively, the national median property tax rate is 0.99%, indicating that Manchester's tax rates can be quite variable. Homeowners must budget accordingly, as property taxes are a significant component of homeownership costs. Understanding these factors can help homeowners anticipate their financial obligations and plan for future expenses.
Average Manchester Tax Bill
$745
Average Alfalfa County Tax Bill
$402
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Manchester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73758 | $233 | $336 | $745 | $1,405 | $1,532 |
Source: Ownwell