Binger, Oklahoma Property Taxes
The median property tax rate in Binger, OK is 0.55%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Binger, the typical annual property tax bill reaches $341, well below the national median of $2,690. Property taxes in Binger 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 Binger'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 Binger 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
Binger, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$359
Ownwell’s Binger Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Binger with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Binger 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 Binger, Oklahoma
Property taxes in Binger, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Binger is 0.55%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Binger set these rates annually, and they can vary significantly across different neighborhoods. Each year, Binger 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 Binger's effective property tax rate to other regions and the national median. For comparison, the zip code 73009 has both the highest and lowest median property tax rate of 0.55%, reflecting uniformity within Binger. Understanding how these rates compare with other regions provides valuable insights into the varying tax landscape across Caddo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Binger Tax Rate
0.55%
Average Caddo County Tax Rate
0.63%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Binger, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73009 | 0.25% | 0.41% | 0.55% | 0.72% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Binger, Oklahoma
In Binger, 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 Caddo 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 Binger, 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 Binger helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill in Binger is 73009, with a median tax bill of $341.
Average Binger Assessed Value
$65,238
Average Caddo County Assessed Value
$58,902
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Binger, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73009 | $25,138 | $37,338 | $65,238 | $112,328 | $179,984 |
Source: Ownwell
Property Tax Bills Across Binger, Oklahoma
In Binger, located in Caddo County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Binger is $65,238, and the property tax rate is applied to this assessed value to determine the tax bill. Factors like the home's location, improvements, and market conditions can influence the assessed value. Homeowners in Binger can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $172, while the 75th percentile tax bill is approximately $658. For those at the higher end, the 90th percentile tax bill can reach up to $1,150. The highest and lowest median tax bills in Binger are both $341, indicating a fairly consistent range within the area. Compared to the national median property tax rate of 0.99%, Binger's rates are relatively modest, offering some relief to homeowners in this region.
Average Binger Tax Bill
$341
Average Caddo County Tax Bill
$341
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Binger, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73009 | $84 | $172 | $341 | $658 | $1,150 |
Source: Ownwell