Stroud, Oklahoma Property Taxes
The median property tax rate in Stroud, OK is 0.69%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $137,804 in Stroud, the typical annual property tax bill is $734, considerably less than the national median of $2,690. Property taxes in Stroud are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Stroud'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 Stroud 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
Stroud, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$951
Ownwell’s Stroud Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stroud with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stroud 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 Stroud, Oklahoma
Property taxes in Stroud, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stroud is 0.69%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Stroud set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stroud 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 Stroud's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74079 area has the highest median property tax rate of 0.69%, while the same area also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Stroud provides valuable insights into the varying tax landscape across Creek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stroud Tax Rate
0.69%
Average Creek County Tax Rate
0.88%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stroud, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74079 | 0.38% | 0.49% | 0.69% | 0.88% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Stroud, Oklahoma
In Stroud, 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 Creek 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 Stroud, 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. The median home price in Stroud is $137,804, with tax bills ranging from $295 at the 25th percentile to $3,220 at the 90th percentile. The highest and lowest median tax bills in the area both amount to $734 in the zip code 74079. 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 Stroud helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stroud Assessed Value
$137,804
Average Creek County Assessed Value
$130,263
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stroud, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74079 | $17,124 | $55,917 | $137,804 | $254,864 | $383,528 |
Source: Ownwell
Property Tax Bills Across Stroud, Oklahoma
In Stroud, located in Creek County, OK, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Stroud is $137,804. Property taxes are determined by multiplying the assessed value by the local tax rate, which varies by jurisdiction. In Creek County, the tax bills range significantly, with the 25th percentile at $295 and the 75th percentile reaching $1,668. For higher-valued properties, the tax bill can go up to the 90th percentile, which is $3,220. These taxes fund essential local services such as public education, road maintenance, and emergency services. Homeowners in Stroud benefit from relatively lower property tax rates compared to the national median property tax rate of 0.99%. However, the tax burden can still be substantial, especially for those with higher-valued properties. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Stroud Tax Bill
$734
Average Creek County Tax Bill
$1,080
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Stroud, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74079 | $121 | $295 | $734 | $1,668 | $3,220 |
Source: Ownwell