Mcloud, Oklahoma Property Taxes
The median property tax rate in McLoud, OK, is 1.09%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $125,597 in McLoud, the typical annual property tax bill is $1,245, which is below the national median of $2,690. Property taxes in McLoud are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding McLoud'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 McLoud or another part of Cleveland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mcloud, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$1,369
Ownwell’s McLoud Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in McLoud with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in McLoud to project your property tax bill. This valuable tool helps you gauge potential tax liabilities with ease. For those interested in more granular details, you can scroll down to explore trends at a neighborhood level. Your property’s assessed value, determined by the county, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Mcloud, Oklahoma
Property taxes in McLoud, Oklahoma, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in McLoud is 1.09%, which is higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within McLoud set these rates annually, and they can vary significantly across different neighborhoods. Each year, McLoud 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 McLoud's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74851 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with McLoud provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mcloud Tax Rate
1.09%
Average Cleveland County Tax Rate
1.13%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcloud, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74851 | 0.75% | 0.98% | 1.09% | 1.23% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Mcloud, Oklahoma
In McLoud, 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 Cleveland 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 McLoud, 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 McLoud helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in McLoud are both $1,245, found in the 74851 zip code.
Average Mcloud Assessed Value
$125,597
Average Cleveland County Assessed Value
$197,572
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mcloud, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74851 | $40,016 | $72,380 | $125,597 | $232,860 | $314,297 |
Source: Ownwell
Property Tax Bills Across Mcloud, Oklahoma
In McLoud, Oklahoma, within Cleveland County, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in McLoud is $125,597. Property tax rates in this region are influenced by various factors, including local government budgets, school funding needs, and public services. Homeowners in McLoud can expect tax bills that vary significantly. For instance, tax bills at the 25th percentile are around $714, while those at the 75th percentile reach up to $2,446. At the 90th percentile, tax bills can be as high as $3,550. The highest median tax bill in McLoud is $1,245, which is notably higher than the national median property tax rate of 0.99%. These variations in tax bills can significantly impact homeowners, affecting their annual financial planning and overall cost of homeownership. Understanding these factors can help residents anticipate their property tax liabilities more accurately.
Average Mcloud Tax Bill
$1,245
Average Cleveland County Tax Bill
$2,141
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcloud, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74851 | $338 | $714 | $1,245 | $2,446 | $3,550 |
Source: Ownwell