Anadarko, Oklahoma Property Taxes
The median property tax rate in Anadarko, OK is 0.62%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $47,381 in Anadarko, the typical annual property tax bill amounts to $272, significantly below the national median of $2,690. Property taxes in Anadarko are determined based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Anadarko'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 Anadarko or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Anadarko, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$294
Ownwell’s Anadarko Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Anadarko with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Anadarko 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 Anadarko, Oklahoma
Property taxes in Anadarko, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Anadarko is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Anadarko set these rates annually, and they can vary significantly across different neighborhoods. Each year, Anadarko 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 Anadarko's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73005 has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Anadarko provides valuable insights into the varying tax landscape across Caddo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Anadarko Tax Rate
0.62%
Average Caddo County Tax Rate
0.63%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Anadarko, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73005 | 0.26% | 0.46% | 0.62% | 0.84% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Anadarko, Oklahoma
In Anadarko, 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 Caddo County Assessor 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 Anadarko, 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 Anadarko helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Anadarko are both $272 in the 73005 zip code, offering a glimpse into the local property tax landscape.
Average Anadarko Assessed Value
$47,381
Average Caddo County Assessed Value
$58,902
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Anadarko, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73005 | $16,965 | $25,800 | $47,381 | $82,100 | $130,910 |
Source: Ownwell
Property Tax Bills Across Anadarko, Oklahoma
In Anadarko, property tax bills are determined by assessing the value of a property and applying the relevant tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate set by Caddo County. This calculation results in the annual property tax bill that homeowners are required to pay. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For example, the median home price in Anadarko is $47,381, contributing to relatively lower tax bills compared to the national median property tax rate of 0.99%. Homeowners in Anadarko can expect to pay a tax bill ranging from $122 at the 25th percentile to $972 at the 90th percentile. A typical homeowner in the highest median tax bill zip code 73005 pays around $272 annually. These tax bills can significantly impact homeowners' budgets, making it essential to understand how they are calculated and what factors might influence them.
Average Anadarko Tax Bill
$272
Average Caddo County Tax Bill
$341
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Anadarko, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73005 | $47 | $122 | $272 | $568 | $972 |
Source: Ownwell