Caddo, Bryan County, Oklahoma Property Taxes
The median property tax rate in Caddo, OK is 0.53%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Caddo at $71,100, the typical annual property tax bill is around $377, well below the national median of $2,690. Property taxes in Caddo are calculated based on the assessed value, which often falls below the market value due to 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, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Caddo, Bryan County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$856
$794
Ownwell’s Caddo Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Caddo. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Caddo to provide an accurate estimate of your property tax bill. This user-friendly tool helps you understand your potential tax liabilities with ease. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down. Your property's assessed value, determined by the county, is used for tax calculations and may include applicable exemptions. This ensures you have a clear understanding of your property tax obligations.
Property Tax Rates Across Caddo, Bryan County, 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 0.75%, significantly lower than the Oklahoma state median of 0.87% and 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 74729 zip code has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Caddo provides valuable insights into the varying tax landscape across Bryan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caddo Tax Rate
0.83%
Average Bryan County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caddo, Bryan County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74729 | 0.53% | 0.69% | 0.83% | 0.94% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Caddo, Bryan County, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Caddo, 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 local 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. 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. In Caddo, the zip code with the highest median tax bill is 74729, with a median tax bill of $777.00.
Property Tax Assessment Values Across Caddo, Bryan County, Oklahoma
Source: Ownwell
$65,651
$106,249
$146,847
Average Caddo Assessed Value
$103,118
Average Bryan County Assessed Value
$117,512
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caddo, Bryan County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74729 | $35,548 | $56,231 | $103,118 | $171,785 | $280,209 |
Source: Ownwell
Property Tax Bills Across Caddo, Bryan County, Oklahoma
In Caddo, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. For example, with a median home price of $103,118, the tax bill can vary significantly. Homeowners at the 25th percentile pay around $404 annually, while those at the 75th percentile pay about $1,432. For the top 10% of homeowners, tax bills can reach up to $2,424. These property taxes fund essential community services such as schools, public safety, and infrastructure. The tax rate in Caddo can be compared to the national median property tax rate of 0.99%, giving homeowners a benchmark for understanding their tax obligations. High property taxes can affect homeowners by increasing the overall cost of owning a home, while lower taxes can make homeownership more affordable. Understanding how these taxes are calculated helps homeowners budget effectively and plan for future expenses.
Average Caddo Tax Bill
$777
Average Bryan County Tax Bill
$903
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Caddo, Bryan County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74729 | $235 | $404 | $777 | $1,432 | $2,424 |
Source: Ownwell