Cartwright, Oklahoma Property Taxes
The median property tax rate in Cartwright, Oklahoma is 0.59%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Cartwright at $94,506, the typical annual property tax bill reaches $458, significantly below the national median of $2,690. Property taxes in Cartwright 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 Cartwright'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 Cartwright 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
Cartwright, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$558
Ownwell’s Cartwright Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cartwright with just two data inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Cartwright to provide an accurate property tax bill estimate. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Bryan County, is used for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Cartwright, Oklahoma
Property taxes in Cartwright, Oklahoma, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cartwright is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Cartwright set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cartwright 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 Cartwright's effective property tax rate to other regions in Oklahoma and the national median. For comparison, the zip code 74731 has both the highest and lowest median property tax rate of 0.59%. Understanding how these rates compare with Cartwright 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 Cartwright Tax Rate
0.59%
Average Bryan County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cartwright, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74731 | 0.31% | 0.44% | 0.59% | 0.77% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Cartwright, Oklahoma
In Cartwright, 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 Cartwright, 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 Cartwright 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 is 74731, with a median of $458, while the lowest median tax bill is also in 74731, at $458.
Average Cartwright Assessed Value
$94,506
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 Cartwright, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74731 | $23,551 | $44,559 | $94,506 | $179,000 | $339,559 |
Source: Ownwell
Property Tax Bills Across Cartwright, Oklahoma
In Cartwright, located in Bryan County, OK, 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 Cartwright is $94,506. Homeowners in this area can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $209, while the 75th percentile tax bill reaches $1,145. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. The highest median tax bill in the area is $458, which is relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can make Cartwright an attractive place for homeowners looking to save on property taxes. However, it's essential for homeowners to stay informed and regularly review their property assessments to ensure they are not overpaying.
Average Cartwright Tax Bill
$458
Average Bryan County Tax Bill
$903
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Cartwright, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74731 | $116 | $209 | $458 | $1,145 | $2,399 |
Source: Ownwell