Tuttle, Oklahoma Property Taxes
The median property tax rate in Tuttle, OK is 1.13%, higher than both the national median of 0.99% and Oklahoma's state median of 0.97%. With the median home value in Tuttle at $208,602, the typical annual property tax bill is $2,349, which is below the national median of $2,690. Property taxes in Tuttle are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Tuttle'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 Tuttle 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
Tuttle, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$2,357
Ownwell’s Tuttle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tuttle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tuttle 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 Tuttle, Oklahoma
Property taxes in Tuttle, Oklahoma, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Tuttle is 1.13%, significantly higher than the U.S. national median of 0.99%. Local government entities within Tuttle annually set these rates, and they can vary across different neighborhoods. Each year, Tuttle 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 Tuttle's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73089 has both the highest and the lowest median property tax rate of 1.13%. Understanding how these rates compare with Tuttle 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 Tuttle Tax Rate
1.13%
Average Grady County Tax Rate
1.03%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tuttle, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73089 | 0.70% | 0.97% | 1.13% | 1.22% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Tuttle, Oklahoma
In Tuttle, 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 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 Tuttle, 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 Tuttle 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 $2,349 in the 73089 zip code, which also has the lowest median tax bill.
Average Tuttle Assessed Value
$208,602
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 Tuttle, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73089 | $84,870 | $134,940 | $208,602 | $302,154 | $384,122 |
Source: Ownwell
Property Tax Bills Across Tuttle, Oklahoma
In Tuttle, Grady County, OK, 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 Tuttle stands at $208,602, and property tax rates are applied to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Tuttle can expect property tax bills to vary widely. For instance, the 25th percentile tax bill is around $1,301, while the 75th percentile reaches $3,455, and the 90th percentile climbs to $4,522. The highest and lowest median tax bills in the area are both $2,349, which aligns with the national median property tax rate of 0.99%. These property taxes fund essential local services, including schools, infrastructure, and public safety, directly impacting the quality of life in Tuttle. Understanding these factors can help homeowners anticipate their tax obligations and budget accordingly.
Average Tuttle Tax Bill
$2,349
Average Grady County Tax Bill
$1,186
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Tuttle, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73089 | $732 | $1,301 | $2,349 | $3,455 | $4,522 |
Source: Ownwell