El Reno, Oklahoma Property Taxes
The median property tax rate in El Reno, OK is 0.90%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $131,864 in El Reno, the typical annual property tax bill amounts to $1,036, which is significantly below the national median of $2,690. Property taxes in El Reno are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding El Reno'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 El Reno 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
El Reno, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$1,187
Ownwell’s El Reno Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in El Reno with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in El Reno 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 El Reno, Oklahoma
Property taxes in El Reno, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in El Reno is 0.90%, which is below the U.S. national median of 0.99%. Local government entities within El Reno set these rates annually, and they can vary significantly across different neighborhoods. Each year, El Reno 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 El Reno's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 73036 zip code has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these areas compare with El Reno provides valuable insights into the varying tax landscape across Canadian County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average El Reno Tax Rate
0.90%
Average Canadian County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across El Reno, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73036 | 0.52% | 0.70% | 0.90% | 1.06% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across El Reno, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in El Reno, Oklahoma. 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 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 El Reno, 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 El Reno helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 73036 has the highest median tax bill of $1036. By understanding these nuances, homeowners can better manage their property tax obligations.
Average El Reno Assessed Value
$131,864
Average Canadian County Assessed Value
$228,594
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across El Reno, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73036 | $43,873 | $72,565 | $131,864 | $201,682 | $301,496 |
Source: Ownwell
Property Tax Bills Across El Reno, Oklahoma
In El Reno, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, in Canadian County, where El Reno is located, the median home price is $131,864. The property tax rate here is relatively low compared to the national median rate of 0.99%. Several factors influence the final tax bill, including the home's location, the local tax rate, and any applicable exemptions or deductions. Homeowners in El Reno can expect their tax bills to vary significantly. For example, the 25th percentile tax bill is $559, while the 75th percentile tax bill is $1,729, and the 90th percentile tax bill reaches $2,609. The highest and lowest median tax bills in the area both stand at $1,036, highlighting some consistency in tax assessments. These property taxes play a crucial role in funding local services, directly impacting the community and homeowners.
Average El Reno Tax Bill
$1,036
Average Canadian County Tax Bill
$2,244
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across El Reno, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73036 | $297 | $559 | $1,036 | $1,729 | $2,609 |
Source: Ownwell