Piedmont, Oklahoma Property Taxes
The median property tax rate in Piedmont, OK is 0.94%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Piedmont at $377,000, the typical annual property tax bill reaches $3,892, surpassing the national median of $2,690. Property taxes in Piedmont are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Piedmont'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 Piedmont 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
Piedmont, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$3,544
Ownwell’s Piedmont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Piedmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Piedmont 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 Piedmont, Oklahoma
Property taxes in Piedmont, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Piedmont is 0.94%, slightly lower than the U.S. national median of 0.99%. Local government entities within Piedmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piedmont 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 Piedmont's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73078 has both the highest and lowest median property tax rate of 0.94%, reflecting the uniformity in the tax landscape within Piedmont. Understanding how these cities compare with Piedmont provides valuable insights into the varying tax landscape across Oklahoma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Piedmont Tax Rate
0.94%
Average Oklahoma County Tax Rate
1.00%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piedmont, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73078 | 0.83% | 0.89% | 0.94% | 1.21% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Piedmont, Oklahoma
In Piedmont, 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 Oklahoma 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 Piedmont, 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, the highest median tax bill in Piedmont is $3,892 in the 73078 zip code. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Piedmont Assessed Value
$377,000
Average Oklahoma County Assessed Value
$192,500
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Piedmont, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73078 | $252,450 | $328,166 | $377,000 | $521,875 | $666,100 |
Source: Ownwell
Property Tax Bills Across Piedmont, Oklahoma
Property tax bills in Piedmont, located in Oklahoma County, OK, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, and this percentage can vary by jurisdiction. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in Piedmont, the median home price is $377,000. Property tax bills can vary significantly, with the 25th percentile tax bill at $3,007 and the 75th percentile reaching $5,665. At the 90th percentile, homeowners could see tax bills as high as $6,016. These figures illustrate how property tax rates can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Piedmont's property tax rates can result in higher or lower tax bills depending on the specific assessed value of the property. This variability underscores the importance of understanding how local property taxes are calculated and their potential impact on household finances.
Average Piedmont Tax Bill
$3,892
Average Oklahoma County Tax Bill
$1,891
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Piedmont, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73078 | $2,683 | $3,007 | $3,892 | $5,665 | $6,016 |
Source: Ownwell