Hydro, Oklahoma Property Taxes
The median property tax rate in Hydro, OK is 0.91%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Hydro, the typical annual property tax bill reaches $1,624, which is below the national median of $2,690. Property taxes in Hydro are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hydro'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 Hydro 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
Hydro, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,737
Ownwell’s Hydro Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hydro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hydro to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Custer County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Hydro, Oklahoma
Property taxes in Hydro, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hydro is 0.91%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Hydro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hydro 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 Hydro's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73048 in Hydro has both the highest and lowest median property tax rate of 0.91%. Understanding how these areas compare with Hydro provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hydro Tax Rate
0.91%
Average Custer County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hydro, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73048 | 0.54% | 0.69% | 0.91% | 1.00% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Hydro, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hydro, Oklahoma. 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 Custer 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 Hydro, 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 Hydro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hydro is $190,869, with tax bills ranging from $862 at the 25th percentile to $3,128 at the 90th percentile. The highest and lowest median tax bills are both $1,624 in zip code 73048.
Average Hydro Assessed Value
$190,869
Average Custer County Assessed Value
$105,000
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hydro, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73048 | $55,999 | $92,380 | $190,869 | $240,529 | $349,870 |
Source: Ownwell
Property Tax Bills Across Hydro, Oklahoma
Property tax bills in Hydro, located in Custer County, OK, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can affect the assessed value, thus influencing the final tax bill. For homeowners in Hydro, the median home price is approximately $190,869. Property tax bills vary significantly, with the 25th percentile bill around $862 and the 75th percentile reaching $2,516. The highest property tax bills, in the 90th percentile, can go up to $3,128. These figures help illustrate how property taxes can impact household budgets, particularly when compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners to anticipate their financial obligations and plan accordingly.
Average Hydro Tax Bill
$1,624
Average Custer County Tax Bill
$977
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hydro, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73048 | $322 | $862 | $1,624 | $2,516 | $3,128 |
Source: Ownwell