Ardmore, Oklahoma Property Taxes
The median property tax rate in Ardmore, OK is 0.83%, below both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $135,000 in Ardmore, the typical annual property tax bill comes to $1,069, significantly lower than the national median of $2,690. Property taxes in Ardmore are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ardmore'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 Ardmore or another part of Carter County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ardmore, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,121
Ownwell’s Ardmore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ardmore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ardmore 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 Ardmore, Oklahoma
Property taxes in Ardmore, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ardmore is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Ardmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ardmore 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 Ardmore's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73401 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Ardmore provides valuable insights into the varying tax landscape across Carter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ardmore Tax Rate
0.83%
Average Carter County Tax Rate
0.85%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ardmore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73401 | 0.45% | 0.63% | 0.83% | 1.01% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Ardmore, Oklahoma
In Ardmore, 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 Carter 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 Ardmore, 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. The median home price in Ardmore is $135,000, with tax bills ranging from $547 at the 25th percentile to $3,102 at the 90th percentile. The highest and lowest median tax bills are both $1,069 in the 73401 zip code. 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 Ardmore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ardmore Assessed Value
$135,000
Average Carter County Assessed Value
$117,168
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ardmore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73401 | $45,763 | $74,752 | $135,000 | $230,845 | $333,212 |
Source: Ownwell
Property Tax Bills Across Ardmore, Oklahoma
In Ardmore, Carter 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 Ardmore is $135,000. Local tax rates are applied to this assessed value to determine the tax bill. Factors such as property size, location, and any applicable exemptions can influence the assessed value. Homeowners in Ardmore can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $547, while at the 75th percentile, it rises to $1986. At the 90th percentile, homeowners might pay up to $3102. The highest and lowest median tax bills in the area are both $1069, reflecting the uniformity in the local tax rate. Compared to the national median property tax rate of 0.99%, Ardmore's rates can provide some relief for homeowners, but the exact impact varies based on individual property assessments and applicable exemptions.
Average Ardmore Tax Bill
$1,069
Average Carter County Tax Bill
$941
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ardmore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73401 | $288 | $547 | $1,069 | $1,986 | $3,102 |
Source: Ownwell