Hinton, Oklahoma Property Taxes
The median property tax rate in Hinton, OK is 0.93%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Hinton, the typical annual property tax bill reaches $350, significantly below the national median of $2,690. Property taxes in Hinton 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 Hinton'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 Hinton 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
Hinton, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$399
Ownwell’s Hinton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hinton 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 Hinton, Oklahoma
Property taxes in Hinton, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hinton is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Hinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hinton 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 Hinton's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73047 has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Hinton 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 Hinton Tax Rate
0.93%
Average Canadian County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hinton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73047 | 0.59% | 0.80% | 0.93% | 1.00% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Hinton, Oklahoma
In Hinton, 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 Canadian 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 Hinton, 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. For instance, the median home price in Hinton is $42,891, with tax bills ranging from $161 at the 25th percentile to $1,495 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hinton Assessed Value
$42,891
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 Hinton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73047 | $7,379 | $21,009 | $42,891 | $92,264 | $178,482 |
Source: Ownwell
Property Tax Bills Across Hinton, Oklahoma
In Hinton, located in Canadian County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value. For instance, if the median home price in Hinton is $42,891, the assessed value would be a fraction of this amount. Property tax rates are then applied to this assessed value to determine the final tax bill. Several factors influence the tax bill, including the property's location, any applicable exemptions, and local tax rates. In Hinton, the median property tax bill is around $350, which is significantly lower than the national median property tax rate of 0.99%. This lower rate can be beneficial for homeowners, making it more affordable to own property in this area. However, tax bills can vary widely, with the 25th percentile at $161 and the 90th percentile reaching up to $1,495, reflecting the diversity in property values and exemptions within the region.
Average Hinton Tax Bill
$350
Average Canadian County Tax Bill
$2,244
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hinton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73047 | $61 | $161 | $350 | $733 | $1,495 |
Source: Ownwell