Verden, Oklahoma Property Taxes
The median property tax rate in Verden, OK is 0.61%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $102,145 in Verden, the typical annual property tax bill amounts to $715, well below the national median of $2,690. Property taxes in Verden are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Verden'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 Verden 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
Verden, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$623
Ownwell’s Verden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Verden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Verden 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 Verden, Oklahoma
Property taxes in Verden, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Verden is 0.61%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Verden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Verden 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 Verden's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73092 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Verden 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 Verden Tax Rate
0.61%
Average Caddo County Tax Rate
0.63%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Verden, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73092 | 0.41% | 0.49% | 0.61% | 0.78% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Verden, Oklahoma
In Verden, 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 Verden, 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 Verden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Verden are both $715, found in the 73092 zip code.
Average Verden Assessed Value
$102,145
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 Verden, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73092 | $54,889 | $69,805 | $102,145 | $210,185 | $246,847 |
Source: Ownwell
Property Tax Bills Across Verden, Oklahoma
In Verden, located in Caddo County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For instance, with a median home price of $102,145, the assessed value is determined by local assessment rules. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence this tax bill, including the property's location, size, and any applicable exemptions or abatements. Homeowners in Verden can expect a wide range of tax bills, from the 25th percentile at $353 to the 75th percentile at $1,518, with some reaching as high as $1,845 at the 90th percentile. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Verden homeowners experience a varied but generally moderate tax burden.
Average Verden Tax Bill
$715
Average Caddo County Tax Bill
$341
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Verden, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73092 | $246 | $353 | $715 | $1,518 | $1,845 |
Source: Ownwell