Carlton Lndg, Oklahoma Property Taxes
The median property tax rate in Carlton Landing, OK is 0.83%, which is lower than both the national median of 0.99% and Oklahoma's state median of 0.97%. With a median home value of $610,000 in Carlton Landing, the typical annual property tax bill is $5,078, surpassing the national median of $2,690. Property taxes in Carlton Landing are based on the tax assessed value, often below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Carlton Landing's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Carlton Landing 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
Carlton Lndg, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$5,063
Ownwell’s Carlton Landing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carlton Landing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carlton Landing 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 Carlton Lndg, Oklahoma
Property taxes in Carlton Landing, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carlton Landing is 0.83%, lower than the U.S. national median of 0.99%. Local government entities within Carlton Landing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carlton Landing 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 Carlton Landing's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74432 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these cities compare with Carlton Landing 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 Carlton Lndg Tax Rate
0.83%
Average Pittsburg County Tax Rate
0.73%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carlton Lndg, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74432 | 0.68% | 0.77% | 0.83% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Carlton Lndg, Oklahoma
In Carlton Landing, 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 Pittsburg 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 Carlton Landing, 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. The median home price in Carlton Landing stands at $610,000, with tax bills ranging from $4,100 at the 25th percentile to $8,284 at the 90th percentile. The highest median tax bill in the area is $5,078 in zip code 74432, which also happens to be the lowest. 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 Carlton Landing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carlton Lndg Assessed Value
$610,000
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 Carlton Lndg, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74432 | $410,651 | $505,000 | $610,000 | $754,362 | $896,224 |
Source: Ownwell
Property Tax Bills Across Carlton Lndg, Oklahoma
In Carlton Landing, located in Pittsburg County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is derived from a percentage of the property's market value. Homeowners in Carlton Landing can expect their property taxes to vary, with the median home price being $610,000. The tax bill for the 25th percentile is around $4,100, while it climbs to $6,688 at the 75th percentile. For those at the 90th percentile, the tax bill can reach $8,284. Factors influencing these calculations include the home's market value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Carlton Landing may find their tax rates to be higher or lower depending on the assessed value and specific local rates. This variability in property taxes can significantly impact homeowners, affecting their annual financial planning and overall cost of homeownership.
Average Carlton Lndg Tax Bill
$5,078
Average Pittsburg County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Carlton Lndg, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74432 | $3,339 | $4,100 | $5,078 | $6,688 | $8,284 |
Source: Ownwell