Oklahoma City, Ohio Property Taxes
The median property tax rate in Oklahoma City, OH is 2.29%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Oklahoma City, the typical annual property tax bill reaches $2,004, exceeding the national median of $2,690. Property taxes in Oklahoma City 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 Oklahoma City'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 Oklahoma City 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
Oklahoma City, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.29%
Estimate Property Tax Bill
$2,002
$1,858
Ownwell’s Oklahoma City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oklahoma City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oklahoma City 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 Montgomery County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Oklahoma City, Ohio
Property taxes in Oklahoma City, Ohio, are critical in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oklahoma City is 1.48%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Oklahoma City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oklahoma City 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 Oklahoma City's effective property tax rate to other counties in Ohio and the national median. For comparison, the 73108 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Oklahoma City provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oklahoma City Tax Rate
2.29%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oklahoma City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73108 | 2.29% | 2.29% | 2.29% | 2.29% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Oklahoma City, Ohio
In Oklahoma City, Ohio, understanding the difference between "market value" and "assessed value" is essential for grasping property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Montgomery County Appraisal District for tax purposes. Conversely, 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 Oklahoma City, 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 stands at $87,410, and the median tax bill is $2,004, with the zip code 73108 having both the highest and lowest median tax bills at $2,004. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Oklahoma City Assessed Value
$87,410
Average Montgomery County Assessed Value
$98,910
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oklahoma City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73108 | $87,410 | $87,410 | $87,410 | $87,410 | $87,410 |
Source: Ownwell
Property Tax Bills Across Oklahoma City, Ohio
In Oklahoma City, Montgomery County, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county assessor determines this value, taking into account factors like the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in Oklahoma City, the median home price is $87,410, and the median property tax bill stands at $2,004. This is significantly higher than the national median property tax rate of 0.99%. The tax bill can vary depending on the specific zip code, but in this case, both the highest and lowest median tax bills are $2,004, found in the 73108 zip code. For homeowners, these property taxes fund essential public services like schools, roads, and emergency services, directly impacting the community's quality of life. Understanding how these bills are calculated helps homeowners anticipate their expenses and plan their finances accordingly.
Average Oklahoma City Tax Bill
$2,004
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Oklahoma City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73108 | $2,004 | $2,004 | $2,004 | $2,004 | $2,004 |
Source: Ownwell