Sterling, Oklahoma Property Taxes
The median property tax rate in Sterling, OK is 0.83%, 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 Sterling at $95,552, the typical annual property tax bill is $570, significantly below the national median of $2,690. Property taxes in Sterling are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sterling'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 Sterling 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
Sterling, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$793
Ownwell’s Sterling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sterling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sterling 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 Sterling, Oklahoma
Property taxes in Sterling, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sterling is 0.83%, which is below the U.S. national median of 0.99%. Local government entities within Sterling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sterling 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 Sterling's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73567 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 areas compare with Sterling 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 Sterling Tax Rate
0.83%
Average Comanche County Tax Rate
1.15%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sterling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73567 | 0.38% | 0.56% | 0.83% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Sterling, Oklahoma
In Sterling, 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 Sterling, 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 Sterling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $570, found in the 73567 zip code, which is also the lowest median tax bill.
Average Sterling Assessed Value
$95,552
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 Sterling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73567 | $23,754 | $57,916 | $95,552 | $153,365 | $203,831 |
Source: Ownwell
Property Tax Bills Across Sterling, Oklahoma
In Sterling, Oklahoma, 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 Sterling is $95,552, and property taxes are determined by applying the local tax rate to this assessed value. Factors such as property size, location, and any applicable exemptions can influence the final tax bill. For instance, homeowners in the 25th percentile can expect a tax bill around $369, while those in the 75th percentile may see bills up to $1,234. The highest median tax bill in the area is $570, consistent across all zip codes in Sterling. Compared to the national median property tax rate of 0.99%, Sterling's rates reflect the local economic conditions and property values. Homeowners must budget for these taxes, as they directly impact annual expenses and the overall cost of homeownership. Understanding these factors helps residents anticipate and manage their financial responsibilities effectively.
Average Sterling Tax Bill
$570
Average Comanche County Tax Bill
$997
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Sterling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73567 | $148 | $369 | $570 | $1,234 | $1,834 |
Source: Ownwell