Blanchard, Oklahoma Property Taxes
The median property tax rate in Blanchard, OK is 1.09%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $195,467 in Blanchard, the typical annual property tax bill is approximately $2,047, which is below the national median of $2,690. Property taxes in Blanchard are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Blanchard'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 Blanchard 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
Blanchard, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$2,131
Ownwell’s Blanchard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blanchard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blanchard 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 Blanchard, Oklahoma
Property taxes in Blanchard, Oklahoma, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Blanchard is 1.09%, significantly higher than the U.S. national median of 0.99%. Local government entities within Blanchard set these rates annually, and they can vary across different neighborhoods. Each year, Blanchard 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 Blanchard's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 73010 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these areas compare with Blanchard provides valuable insights into the varying tax landscape across Grady County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blanchard Tax Rate
1.09%
Average Grady County Tax Rate
1.03%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blanchard, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73010 | 0.52% | 0.83% | 1.09% | 1.20% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Blanchard, Oklahoma
In Blanchard, 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 Grady 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 Blanchard, 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 Blanchard is $195,467, with tax bills ranging from $1,073 at the 25th percentile to $3,931 at the 90th percentile. The highest and lowest median tax bills are both $2,047, found in the zip code 73010. 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 Blanchard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Blanchard Assessed Value
$195,467
Average Grady County Assessed Value
$126,704
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blanchard, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73010 | $79,516 | $125,367 | $195,467 | $277,446 | $340,000 |
Source: Ownwell
Property Tax Bills Across Blanchard, Oklahoma
In Blanchard, located in Grady County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For homeowners in Blanchard, the median home price is $195,467. The 25th percentile tax bill is $1,073, while the 75th percentile tax bill reaches $3,009, and the 90th percentile tax bill is $3,931. These figures indicate the range within which most homeowners' tax bills fall, showing significant variability based on individual property values and local tax rates. Compared to the national median property tax rate of 0.99%, Blanchard's rates can offer a relatively affordable option for homeowners. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Blanchard Tax Bill
$2,047
Average Grady County Tax Bill
$1,186
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Blanchard, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73010 | $497 | $1,073 | $2,047 | $3,009 | $3,931 |
Source: Ownwell