Clayton, Oklahoma Property Taxes
The median property tax rate in Clayton, Oklahoma is 0.80%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $37,635 in Clayton, the typical annual property tax bill is $174, significantly below the national median of $2,690. Property taxes in Clayton are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Clayton'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 Clayton or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clayton, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$301
Ownwell’s Clayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clayton 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 Clayton, Oklahoma
Property taxes in Clayton, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clayton is 0.62%, significantly lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Clayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clayton 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 Clayton's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74536 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Clayton provides valuable insights into the varying tax landscape across Pushmataha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clayton Tax Rate
0.80%
Average Pittsburg County Tax Rate
0.73%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clayton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74536 | 0.32% | 0.45% | 0.80% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Clayton, Oklahoma
In Clayton, 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 Clayton, 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 Clayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $37,635, with tax bills ranging from $152 at the 25th percentile to $634 at the 90th percentile. The highest and lowest median tax bill in the area is $174, found in zip code 74536.
Average Clayton Assessed Value
$37,635
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 Clayton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74536 | $10,049 | $20,173 | $37,635 | $55,084 | $70,884 |
Source: Ownwell
Property Tax Bills Across Clayton, Oklahoma
In Clayton, 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 Clayton is $37,635. Property taxes are then applied to this assessed value using the local tax rate. Homeowners in Clayton can expect their tax bills to vary significantly, with the 25th percentile tax bill at $152 and the 75th percentile tax bill at $430. The 90th percentile tax bill can go up to $634, reflecting higher-valued properties or additional assessments. Several factors influence the final tax bill, including property improvements, neighborhood developments, and changes in local tax rates. For homeowners, understanding these factors is crucial as they directly impact the annual property tax burden. Compared to the national median property tax rate of 0.99%, Clayton's property tax rate is relatively modest, making it an appealing location for those looking to minimize their property tax expenses.
Average Clayton Tax Bill
$174
Average Pittsburg County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Clayton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74536 | $55 | $152 | $174 | $430 | $634 |
Source: Ownwell