Paradise Hill, Oklahoma Property Taxes
The median property tax rate in Paradise Hill, OK is 1.05%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Paradise Hill at $281,225, the typical annual property tax bill reaches $2,911, surpassing the national median of $2,690. Property taxes in Paradise Hill 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 Paradise Hill'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 Paradise Hill 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
Paradise Hill, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$2,953
Ownwell’s Paradise Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paradise Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paradise Hill 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 Paradise Hill, Oklahoma
Property taxes in Paradise Hill, Oklahoma, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Paradise Hill is 1.05%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Paradise Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paradise Hill 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 Paradise Hill's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74435 zip code has the highest median property tax rate of 1.05%, while the 74435 zip code has the lowest median tax rate of 1.05%. Understanding how these cities compare with Paradise Hill provides valuable insights into the varying tax landscape across Sequoyah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Paradise Hill Tax Rate
1.05%
Average Sequoyah County Tax Rate
0.74%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paradise Hill, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74435 | 0.93% | 1.04% | 1.05% | 1.05% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Paradise Hill, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Paradise Hill, Oklahoma. 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 Sequoyah County 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 Paradise Hill, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $2911 in the 74435 zip code, while the lowest median tax bill is also $2911 in the same zip code.
Average Paradise Hill Assessed Value
$281,225
Average Sequoyah County Assessed Value
$80,752
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Paradise Hill, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74435 | $204,085 | $219,588 | $281,225 | $318,775 | $387,261 |
Source: Ownwell
Property Tax Bills Across Paradise Hill, Oklahoma
In Paradise Hill, property tax bills are calculated based on the assessed value of a home, which is determined by the Sequoyah County Assessor's office. The assessed value is typically a percentage of the property's market value. Homeowners in Paradise Hill can expect their tax bills to vary significantly, with the 25th percentile tax bill at $2,293 and the 75th percentile reaching $3,354. The tax bill for the 90th percentile is even higher at $4,074. The highest and lowest median tax bills in the area are both $2,911, reflecting the uniformity in certain parts of the county. These property taxes fund essential public services such as schools, emergency services, and infrastructure projects. For homeowners, this means that their annual tax bill is not only a reflection of their property's value but also a crucial contribution to the community. Compared to the national median property tax rate of 0.99%, homeowners in Paradise Hill might find their tax rates to be a significant factor in their overall cost of living.
Average Paradise Hill Tax Bill
$2,911
Average Sequoyah County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Paradise Hill, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74435 | $1,921 | $2,293 | $2,911 | $3,354 | $4,074 |
Source: Ownwell