Clinton, Oklahoma Property Taxes
The median property tax rate in Clinton, OK is 0.82%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Clinton at $113,484, the typical annual property tax bill comes to $768, significantly below the national median of $2,690. Property taxes in Clinton are calculated based on the tax assessed value, often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Clinton'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 Clinton or another part of Washita County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clinton, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$931
Ownwell’s Clinton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Clinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clinton 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 Clinton, Oklahoma
Property taxes in Clinton, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clinton is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Clinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clinton 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 Clinton's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73601 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with Clinton provides valuable insights into the varying tax landscape across Washita County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clinton Tax Rate
0.82%
Average Washita County Tax Rate
0.77%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clinton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73601 | 0.49% | 0.68% | 0.82% | 0.94% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Clinton, Oklahoma
In Clinton, 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 Washita County Appraisal District 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 Clinton, 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. For instance, the median home price in Clinton is $113,484, with tax bills ranging from $534 at the 25th percentile to $2,085 at the 90th percentile. The highest and lowest median tax bills both stand at $768 in the 73601 zip code. By understanding 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 Clinton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clinton Assessed Value
$113,484
Average Washita County Assessed Value
$56,348
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clinton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73601 | $48,153 | $70,528 | $113,484 | $175,120 | $252,699 |
Source: Ownwell
Property Tax Bills Across Clinton, Oklahoma
In Clinton, OK, located in Washita County, property tax bills are calculated based on the assessed value of the home, which is typically a percentage of the market value. The county uses this assessed value to determine the tax bill, applying the local tax rate to the assessed value. For instance, the median home price in Clinton is $113,484. Homeowners in Clinton can expect tax bills to vary significantly, with the 25th percentile tax bill at $534 and the 75th percentile reaching $1,355. At the 90th percentile, the tax bill can go up to $2,085. The highest median tax bill in the area is $768, which is also the lowest, both found in zip code 73601. Compared to the national median property tax rate of 0.99%, Clinton's rates can be considered moderate. These tax bills impact homeowners by affecting their annual expenses, influencing both their short-term budgets and long-term financial planning. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average Clinton Tax Bill
$768
Average Washita County Tax Bill
$399
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Clinton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73601 | $293 | $534 | $768 | $1,355 | $2,085 |
Source: Ownwell