Carter, Oklahoma Property Taxes
The median property tax rate in Carter, OK is 0.73%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Carter, the typical annual property tax bill reaches $500, significantly below the national median of $2,690. Property taxes in Carter 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 Carter'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 Carter 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
Carter, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$494
Ownwell’s CARTER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CARTER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CARTER 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 Carter, Oklahoma
Property taxes in Carter, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carter is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Carter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carter 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 Carter's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73627 zip code has both the highest and lowest median property tax rate of 0.73%. Understanding how these areas compare with Carter provides valuable insights into the varying tax landscape across Carter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carter Tax Rate
0.73%
Average Beckham County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carter, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73627 | 0.23% | 0.47% | 0.73% | 1.04% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Carter, Oklahoma
In Carter, 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 Carter, 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 Carter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Carter are both $500.00 in the zip code 73627.
Average Carter Assessed Value
$67,666
Average Beckham County Assessed Value
$93,844
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carter, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73627 | $19,759 | $34,266 | $67,666 | $134,160 | $197,094 |
Source: Ownwell
Property Tax Bills Across Carter, Oklahoma
In Carter, located in Beckham County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Carter is $67,666, and property taxes are determined by applying the local tax rate to this assessed value. Factors such as property improvements, location, and market trends can influence the assessed value, thereby affecting the tax bill. For instance, homeowners in the 25th percentile of tax bills pay around $197, while those in the 75th percentile pay approximately $957. The 90th percentile sees tax bills reaching up to $1,885. Comparatively, the national median property tax rate stands at 0.99%, highlighting the variability in tax burdens across regions. These property taxes fund essential public services, impacting homeowners by contributing to local schools, infrastructure, and emergency services. Understanding how these taxes are calculated can help homeowners better anticipate their financial responsibilities.
Average Carter Tax Bill
$500
Average Beckham County Tax Bill
$783
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Carter, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73627 | $87 | $197 | $500 | $957 | $1,885 |
Source: Ownwell