Mannford, Oklahoma Property Taxes
The median property tax rate in Mannford, OK is 0.86%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $132,041 in Mannford, the typical annual property tax bill is $1,098, significantly below the national median of $2,690. Property taxes in Mannford are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Mannford'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 Mannford or elsewhere in Creek County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mannford, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,136
Ownwell’s MANNFORD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MANNFORD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MANNFORD 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 Mannford, Oklahoma
Property taxes in Mannford, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mannford is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Mannford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mannford 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 Mannford's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74044 zip code has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these areas compare with Mannford provides valuable insights into the varying tax landscape across Creek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mannford Tax Rate
0.86%
Average Creek County Tax Rate
0.88%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mannford, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74044 | 0.47% | 0.68% | 0.86% | 0.99% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Mannford, Oklahoma
In Mannford, 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 Creek 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 Mannford, 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 Mannford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Mannford, the highest and lowest median tax bills are both $1,098 in zip code 74044.
Average Mannford Assessed Value
$132,041
Average Creek County Assessed Value
$130,263
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mannford, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74044 | $27,837 | $75,598 | $132,041 | $199,113 | $280,105 |
Source: Ownwell
Property Tax Bills Across Mannford, Oklahoma
In Mannford, Creek County, OK, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. For homeowners in Mannford, the median home price is $132,041. Property tax bills can vary significantly, with the 25th percentile at $513 and the 75th percentile reaching up to $1,776. At the 90th percentile, some homeowners might pay as much as $2,531 annually. Comparing these figures to the national median property tax rate of 0.99%, Mannford's property taxes are relatively moderate. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Mannford Tax Bill
$1,098
Average Creek County Tax Bill
$1,080
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Mannford, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74044 | $194 | $513 | $1,098 | $1,776 | $2,531 |
Source: Ownwell