Geronimo, Oklahoma Property Taxes
The median property tax rate in Geronimo, OK is 1.08%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Geronimo at $75,242, the typical annual property tax bill is $782, which is significantly lower than the national median of $2,690. Property taxes in Geronimo are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Geronimo'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 Geronimo 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
Geronimo, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$813
Ownwell’s Geronimo Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Geronimo with just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Geronimo to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Geronimo, Oklahoma
Property taxes in Geronimo, Oklahoma, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Geronimo is 0.74%, 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 Geronimo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Geronimo 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 Geronimo's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the highest median property tax rate in Comanche County is 0.74%, while the lowest median tax rate is also 0.74%. Understanding how these cities compare with Geronimo 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 Geronimo Tax Rate
1.08%
Average Comanche County Tax Rate
1.15%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Geronimo, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73543 | 0.75% | 0.94% | 1.08% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Geronimo, Oklahoma
In Geronimo, 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 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 Geronimo, 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 Geronimo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 73543 at $782, which also happens to be the lowest median tax bill in the area.
Average Geronimo Assessed Value
$75,242
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 Geronimo, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73543 | $16,210 | $44,026 | $75,242 | $131,293 | $182,595 |
Source: Ownwell
Property Tax Bills Across Geronimo, Oklahoma
In Geronimo, Comanche County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Geronimo is $75,242. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the property tax rate in Geronimo is lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Geronimo can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $430, while at the 75th percentile, it rises to $1,345. At the 90th percentile, the tax bill can reach up to $1,911. These property taxes fund local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these taxes are calculated helps homeowners plan their finances better and take advantage of any available exemptions.
Average Geronimo Tax Bill
$782
Average Comanche County Tax Bill
$997
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Geronimo, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73543 | $137 | $430 | $782 | $1,345 | $1,911 |
Source: Ownwell