Cache, Oklahoma Property Taxes
The median property tax rate in Cache, OK is 1.16%, which is higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Cache being $144,114, the typical annual property tax bill reaches $1,475, falling below the national median of $2,690. Property taxes in Cache are calculated based on the tax assessed value, generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cache'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 Cache 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
Cache, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$1,672
Ownwell’s CACHE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CACHE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CACHE 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 Cache, Oklahoma
Property taxes in Cache, Oklahoma, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Cache is 0.75%, which is lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Cache set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cache 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 Cache's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73527 zip code has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Cache provides valuable insights into the varying tax landscape across Comanche County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cache Tax Rate
1.16%
Average Comanche County Tax Rate
1.15%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cache, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73527 | 0.90% | 1.07% | 1.16% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Cache, Oklahoma
In Cache, 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 Comanche 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 Cache, 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 Cache helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cache are both found in the 73527 zip code, with a median tax bill of $1,475.
Average Cache Assessed Value
$144,114
Average Comanche County Assessed Value
$99,838
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cache, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73527 | $33,875 | $75,372 | $144,114 | $221,872 | $305,071 |
Source: Ownwell
Property Tax Bills Across Cache, Oklahoma
In Cache, Comanche 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 $144,114, the property tax rate is applied to determine the annual tax bill. The tax rate in this region is influenced by local government budgets and the funding needs for public services like schools and infrastructure. Homeowners in Cache can see a wide range in their property tax bills. The 25th percentile tax bill is around $796, while the 75th percentile reaches $2,378, and the 90th percentile can be as high as $3,096. This variation is due to differences in property values and the specific tax rates applied. Compared to the national median property tax rate of 0.99%, Cache's rates can vary significantly, impacting homeowners differently based on their property's assessed value. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Cache Tax Bill
$1,475
Average Comanche County Tax Bill
$997
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Cache, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73527 | $364 | $796 | $1,475 | $2,378 | $3,096 |
Source: Ownwell