Orlando, Oklahoma Property Taxes
The median property tax rate in Orlando, OK is 0.77%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $80,321 in Orlando, the typical annual property tax bill reaches $571, significantly below the national median of $2,690. Property taxes in Orlando are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Orlando'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 Orlando or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Orlando, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$618
Ownwell’s Orlando Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Orlando with just two data points. By entering your property's estimated assessed value, the calculator leverages the median tax rate in Orlando to provide an accurate property tax estimate. This valuable tool helps you understand your potential tax liabilities and plan accordingly. For those interested in more detailed trends at the neighborhood level, you can find localized information by scrolling down. Your property's assessed value, determined by the county, is crucial for property tax calculations and may include applicable exemptions.
Property Tax Rates Across Orlando, Oklahoma
Property taxes in Orlando, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Orlando is 0.77%, which is below the U.S. national median of 0.99%. Local government entities within Orlando set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orlando 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 Orlando's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73073 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Orlando provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orlando Tax Rate
0.77%
Average Logan County Tax Rate
0.98%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orlando, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73073 | 0.33% | 0.58% | 0.77% | 0.86% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Orlando, Oklahoma
In Orlando, 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 Logan 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 Orlando, 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 Orlando helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in zip code 73073, with a value of $571.
Average Orlando Assessed Value
$80,321
Average Logan County Assessed Value
$165,842
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orlando, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73073 | $17,125 | $37,360 | $80,321 | $140,704 | $249,230 |
Source: Ownwell
Property Tax Bills Across Orlando, Oklahoma
In Orlando, property tax bills are calculated based on the assessed value of your home. The county assessor determines this value, which may differ from the market value. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. Several factors influence this calculation, including property size, location, and any applicable exemptions or deductions. For homeowners in Orlando, the median home price is $80,321, and property tax rates vary significantly. The tax bill at the 25th percentile is $259, while at the 75th percentile, it reaches $1,064. For those at the 90th percentile, the bill can rise to $2,000. This variation highlights the importance of understanding how assessed values and local rates affect individual tax obligations. Compared to the national median property tax rate of 0.99%, Orlando's tax rates can be relatively moderate, providing some relief to homeowners. However, staying informed about these factors is crucial for effective financial planning.
Average Orlando Tax Bill
$571
Average Logan County Tax Bill
$1,451
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Orlando, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73073 | $101 | $259 | $571 | $1,064 | $2,000 |
Source: Ownwell