Calera, Oklahoma Property Taxes
The median property tax rate in Calera, OK is 0.78%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Calera, the typical annual property tax bill reaches $1,115, falling below the national median of $2,690. Property taxes in Calera 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 Calera'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 Calera 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
Calera, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,145
Ownwell’s Calera Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calera with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calera 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 Calera, Oklahoma
Property taxes in Calera, Oklahoma, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Calera is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Calera set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calera 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 Calera's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74730 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Calera 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 Calera Tax Rate
0.78%
Average Bryan County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calera, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74730 | 0.48% | 0.63% | 0.78% | 0.93% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Calera, Oklahoma
In Calera, 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 Bryan 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 Calera, 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 Calera helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Calera is 74730, with a median tax bill of $1,115, which is the same as the lowest median tax bill in the area.
Average Calera Assessed Value
$146,847
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 Calera, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74730 | $48,604 | $82,706 | $146,847 | $202,652 | $290,440 |
Source: Ownwell
Property Tax Bills Across Calera, Oklahoma
Property tax bills in Calera, Bryan County, OK are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate, applied to this assessed value, determines the final tax bill. For homeowners in Calera, the median home price is $146,847. Property tax bills can vary significantly, with the 25th percentile at $534, the 75th percentile at $1,730, and the 90th percentile reaching up to $2,479. These variations are influenced by factors such as the property's location, improvements, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Calera's rates can be considered moderate. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances effectively. Knowing the assessed value and local tax rates can provide a clear picture of what to expect in terms of property tax bills, ensuring homeowners are well-prepared for their annual payments.
Average Calera Tax Bill
$1,115
Average Bryan County Tax Bill
$903
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Calera, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74730 | $307 | $534 | $1,115 | $1,730 | $2,479 |
Source: Ownwell