Caddo, Oklahoma Property Taxes
The median property tax rate in Caddo, OK is 0.71%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $116,430 in Caddo, the typical annual property tax bill comes to $787, well below the national median of $2,690. Property taxes in Caddo are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Caddo'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 Caddo or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Caddo, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$827
Ownwell’s Caddo Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Caddo with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Caddo to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, scroll down to explore more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Caddo, Oklahoma
Property taxes in Caddo, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caddo is 0.88%, which is lower than the Oklahoma state median of 0.90% but still below the U.S. national median of 0.99%. Local government entities within Caddo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caddo 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 Caddo's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the highest median property tax rate in Oklahoma is found in Tulsa with a rate of 1.24%, while the lowest is in Harmon at 0.47%. Understanding how these cities compare with Caddo provides valuable insights into the varying tax landscape across Bryan, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caddo Tax Rate
0.71%
Average Atoka County Tax Rate
0.71%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caddo, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74729 | 0.40% | 0.54% | 0.71% | 0.89% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Caddo, Oklahoma
In Caddo, 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 Caddo, 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 Caddo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 74729 has the highest and lowest median tax bill at $787, highlighting the variability in tax burdens within the area.
Average Caddo Assessed Value
$116,430
Average Atoka County Assessed Value
$86,760
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caddo, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74729 | $33,974 | $69,736 | $116,430 | $194,890 | $314,636 |
Source: Ownwell
Property Tax Bills Across Caddo, Oklahoma
In CADDO, 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 CADDO is $116,430. Property taxes are determined by multiplying the assessed value by the local tax rate. For homeowners in CADDO, tax bills can vary widely depending on the exact valuation of their property and the specific tax rate applied. For instance, the tax bill at the 25th percentile is $393, while at the 75th percentile, it rises to $1,493. The 90th percentile sees a tax bill of $2,865. This variation highlights how different factors, such as property size, location, and improvements, can influence the final tax amount. Compared to the national median property tax rate of 0.99%, homeowners in CADDO might find their tax bills relatively manageable, but the impact on household budgets can still be significant. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Caddo Tax Bill
$787
Average Atoka County Tax Bill
$584
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Caddo, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74729 | $171 | $393 | $787 | $1,493 | $2,865 |
Source: Ownwell