Canadian, Oklahoma Property Taxes
The median property tax rate in Canadian, OK is 0.59%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Canadian being $86,556, the typical annual property tax bill is $474, significantly below the national median of $2,690. Property taxes in Canadian 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 Canadian'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 Canadian 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
Canadian, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$511
Ownwell’s Canadian Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Canadian with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Canadian 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 Canadian, Oklahoma
Property taxes in Canadian, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Canadian is 0.75%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Canadian set these rates annually, and they can vary significantly across different neighborhoods. Each year, Canadian 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 Canadian's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the highest median property tax rate in the area is also 0.75%, while the lowest median tax rate is the same at 0.75%. Understanding how these cities compare with Canadian provides valuable insights into the varying tax landscape across Pittsburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Canadian Tax Rate
0.59%
Average Pittsburg County Tax Rate
0.73%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Canadian, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74425 | 0.32% | 0.43% | 0.59% | 0.78% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Canadian, Oklahoma
In Canadian, 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 local 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 Canadian, 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 Canadian helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Canadian both stand at $474, specifically in the 74425 zip code.
Average Canadian Assessed Value
$86,556
Average Pittsburg County Assessed Value
$87,046
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Canadian, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74425 | $25,645 | $49,218 | $86,556 | $143,952 | $237,116 |
Source: Ownwell
Property Tax Bills Across Canadian, Oklahoma
In Canadian, located in Pittsburg County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value determined by the county assessor. The tax rate is then applied to this assessed value to determine the tax bill. For Canadian, the median home price is $86,556, which significantly influences the overall tax bill. Factors such as property characteristics, market conditions, and local tax rates all play a role in determining the final tax amount. Homeowners in Canadian can expect their property tax bills to vary, with the 25th percentile at $240, the 75th percentile at $863, and the 90th percentile reaching $1,380. The highest median tax bill in Pittsburg County is $474, indicating a relatively moderate tax burden compared to the national median property tax rate of 0.99%. This tax calculation impacts homeowners by influencing their annual expenses and potentially affecting property values and market dynamics in the area.
Average Canadian Tax Bill
$474
Average Pittsburg County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Canadian, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74425 | $134 | $240 | $474 | $863 | $1,380 |
Source: Ownwell