Noble, Oklahoma Property Taxes
The median property tax rate in Noble, OK is 0.91%, slightly below the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Noble at $140,115, the typical annual property tax bill is $1,192, which is significantly lower than the national median of $2,690. Property taxes in Noble are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Noble'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 Noble 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
Noble, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,275
Ownwell’s Noble Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Noble with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Noble to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in exploring trends at a neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Noble, Oklahoma
Property taxes in Noble, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Noble is 0.91%, which is slightly below the U.S. national median of 0.99%. Local government entities within Noble set these rates annually, and they can vary significantly across different neighborhoods. Each year, Noble 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 Noble's effective property tax rate to other areas within Oklahoma and the national median. For comparison, the zip code 73068 has both the highest and the lowest median property tax rate of 0.91%. Understanding how these cities compare with Noble provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Noble Tax Rate
0.91%
Average Cleveland County Tax Rate
1.13%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Noble, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73068 | 0.50% | 0.71% | 0.91% | 1.16% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Noble, Oklahoma
In Noble, 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 Cleveland 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 Noble, 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, Noble's median home price is $140,115, with tax bills ranging from $614 at the 25th percentile to $2,809 at the 90th percentile. The zip code 73068 has both the highest and lowest median tax bill of $1,192. Being aware of these valuation processes in Noble helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Noble Assessed Value
$140,115
Average Cleveland County Assessed Value
$197,572
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Noble, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73068 | $32,506 | $85,370 | $140,115 | $198,396 | $270,941 |
Source: Ownwell
Property Tax Bills Across Noble, Oklahoma
In Noble, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value determined by the local tax assessor. The median home price in Noble is $140,115. The property tax rate in this area is influenced by the needs of Cleveland County, various public services, and the local school district, among other factors. For homeowners, this means that the tax bill can vary widely. For instance, the 25th percentile tax bill is $614, while at the 75th percentile, it rises to $2,079, and at the 90th percentile, it reaches $2,809. The highest median tax bill recorded in the area is $1,192 in the zip code 73068, which is still below the national median property tax rate of 0.99%. Understanding how these factors interplay can help homeowners anticipate their property tax obligations and plan accordingly.
Average Noble Tax Bill
$1,192
Average Cleveland County Tax Bill
$2,141
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Noble, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73068 | $206 | $614 | $1,192 | $2,079 | $2,809 |
Source: Ownwell