Ringling, Oklahoma Property Taxes
The median property tax rate in Ringling, OK is 0.87%, 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 Ringling at $131,708, the typical annual property tax bill comes to $1,005, significantly below the national median of $2,690. Property taxes in Ringling are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ringling'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 Ringling 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
Ringling, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,146
Ownwell’s Ringling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ringling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ringling 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 Carter County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ringling, Oklahoma
Property taxes in Ringling, Oklahoma, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ringling is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Ringling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ringling 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 Ringling's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73456 zip code has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Ringling 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 Ringling Tax Rate
0.87%
Average Carter County Tax Rate
0.85%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ringling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73456 | 0.58% | 0.73% | 0.87% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Ringling, Oklahoma
In Ringling, 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 Ringling, 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 Ringling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 73456 has the highest median tax bill, amounting to $1,005, which is significantly higher than the national median property tax rate of 0.99%.
Average Ringling Assessed Value
$131,708
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 Ringling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73456 | $42,805 | $80,110 | $131,708 | $182,984 | $286,859 |
Source: Ownwell
Property Tax Bills Across Ringling, Oklahoma
Property tax bills in Ringling, Carter County, OK, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor's office and typically represents a percentage of the property's market value. Homeowners in Ringling can expect a median home price of $131,708. The tax bill varies significantly, with the 25th percentile at $594 and the 75th percentile reaching $1,542. For those in the 90th percentile, the tax bill can be as high as $2,360. These figures indicate that property taxes can have a considerable impact on homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Ringling's property tax rates are relatively moderate. This means that while property taxes are a necessary expense for homeowners, they are not excessively high compared to other regions. Understanding these factors helps homeowners in Ringling plan their finances more effectively and anticipate their annual property tax obligations.
Average Ringling Tax Bill
$1,005
Average Carter County Tax Bill
$941
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ringling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73456 | $293 | $594 | $1,005 | $1,542 | $2,360 |
Source: Ownwell