Bradley, Oklahoma Property Taxes
The median property tax rate in Bradley, OK is 0.88%, 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 Bradley at $88,848, the typical annual property tax bill amounts to $680, significantly less than the national median of $2,690. Property taxes in Bradley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bradley'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 Bradley 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
Bradley, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$782
Ownwell’s Bradley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bradley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradley 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 Bradley, Oklahoma
Property taxes in Bradley, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradley is 0.88%, slightly below the U.S. national median of 0.99%. Local government entities within Bradley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradley 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 Bradley's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73011 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Bradley provides valuable insights into the varying tax landscape across Grady County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradley Tax Rate
0.88%
Average Grady County Tax Rate
1.03%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradley, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73011 | 0.42% | 0.60% | 0.88% | 1.03% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Bradley, Oklahoma
In Bradley, 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 Grady County Assessor's Office 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 Bradley, 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 Bradley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bill in the area is $680.00, both found in the zip code 73011.
Average Bradley Assessed Value
$88,848
Average Grady County Assessed Value
$126,704
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bradley, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73011 | $33,030 | $51,992 | $88,848 | $162,122 | $232,080 |
Source: Ownwell
Property Tax Bills Across Bradley, Oklahoma
In Bradley, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. This assessed value is a percentage of the property's market value. Once the assessed value is established, local tax rates are applied to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Grady County, where Bradley is located, property tax bills can vary significantly. For instance, the median home price is $88,848, and tax bills range from the 25th percentile at $361 to the 90th percentile at $2,563. The highest median tax bill within the ZIP code 73011 is $680, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes play a crucial role in funding local services such as schools, emergency services, and infrastructure. For homeowners, understanding how these taxes are calculated can help in budgeting and financial planning, ensuring they are prepared for their annual tax obligations.
Average Bradley Tax Bill
$680
Average Grady County Tax Bill
$1,186
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradley, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73011 | $195 | $361 | $680 | $1,468 | $2,563 |
Source: Ownwell