Union City, Oklahoma Property Taxes
The median property tax rate in Union City, OK is 0.80%, 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 Union City at $131,794, the typical annual property tax bill amounts to $940, significantly below the national median of $2,690. Property taxes in Union City are calculated based on the tax assessed value, which is typically lower than the market value due to various exemptions, like those for primary residences and agricultural properties. Understanding Union City'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 Union City or another part of Canadian County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Union City, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,054
Ownwell's Union City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Union City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Union City 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 Union City, Oklahoma
Property taxes in Union City, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union City is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Union City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union City 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 Union City's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73090 has both the highest and lowest median property tax rate in the region at 0.80%. Understanding how these rates compare with Union City 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 Union City Tax Rate
0.80%
Average Canadian County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Union City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73090 | 0.48% | 0.64% | 0.80% | 0.91% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Union City, Oklahoma
In Union City, 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 Union City, 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 Union City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Union City is $131,794. Notably, the highest and lowest median tax bills both occur in the 73090 zip code, with a median tax bill of $940. The 25th percentile tax bill is $590, while the 75th percentile tax bill is $1,454, and the 90th percentile tax bill reaches $2,280.
Average Union City Assessed Value
$131,794
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 Union City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73090 | $48,164 | $91,683 | $131,794 | $190,756 | $275,116 |
Source: Ownwell
Property Tax Bills Across Union City, Oklahoma
Property tax bills in Union City, located in Canadian County, OK, are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and typically represents a percentage of the property's market value. Various factors influence this assessed value, including the property's location, size, and improvements. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. In Union City, the property tax rate is compared to the national median property tax rate of 0.99%. For example, the 25th percentile tax bill is $590, while the 75th percentile tax bill reaches $1,454. The 90th percentile tax bill can be as high as $2,280. These figures indicate a range of tax burdens depending on the property's assessed value. Homeowners need to understand these factors as they directly affect their annual financial obligations and overall property affordability.
Average Union City Tax Bill
$940
Average Canadian County Tax Bill
$2,244
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Union City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73090 | $323 | $590 | $940 | $1,454 | $2,280 |
Source: Ownwell