Ringold, Oklahoma Property Taxes
The median property tax rate in Ringold, OK is 0.64%, 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 Ringold being $28,889, the typical annual property tax bill is $164, significantly less than the national median of $2,690. Property taxes in Ringold 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 Ringold'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 Ringold 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
Ringold, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$185
Ownwell’s RINGOLD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RINGOLD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RINGOLD 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 Ringold, Oklahoma
Property taxes in Ringold, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ringold is 0.64%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Ringold set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ringold 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 Ringold's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74754 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Ringold provides valuable insights into the varying tax landscape across McCurtain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ringold Tax Rate
0.64%
Average Mccurtain County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ringold, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74754 | 0.22% | 0.40% | 0.64% | 0.84% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Ringold, Oklahoma
In Ringold, 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 McCurtain 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 Ringold, 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. For instance, the highest median tax bill in Ringold is $164.00 in the 74754 zip code, which is also the lowest median 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 Ringold helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ringold Assessed Value
$28,889
Average Mccurtain County Assessed Value
$64,043
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ringold, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74754 | $13,924 | $17,731 | $28,889 | $50,708 | $94,297 |
Source: Ownwell
Property Tax Bills Across Ringold, Oklahoma
In Ringold, McCurtain County, OK, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Ringold is $28,889, and the local property tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as home improvements, neighborhood developments, and changes in the housing market can influence the assessed value, thereby affecting the tax bill. For homeowners in Ringold, the property tax bill varies significantly. At the 25th percentile, the tax bill is $82, while at the 75th percentile, it rises to $392, and at the 90th percentile, it can reach up to $596. The highest and lowest median tax bills in the area are both $164, located in the zip code 74754. Compared to the national median property tax rate of 0.99%, Ringold's property tax bills are relatively modest, making it a more affordable option for homeowners. Understanding these factors can help homeowners anticipate and manage their property tax obligations effectively.
Average Ringold Tax Bill
$164
Average Mccurtain County Tax Bill
$440
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ringold, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74754 | $49 | $82 | $164 | $392 | $596 |
Source: Ownwell