Hinton, Caddo County, Oklahoma Property Taxes
The median property tax rate in Hinton, OK is 0.73%, 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 Hinton, the typical annual property tax bill is $599, significantly less than the national median of $2,690. Property taxes in Hinton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hinton'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 Hinton 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
Hinton, Caddo County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$623
$578
Ownwell’s Hinton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hinton 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 Hinton, Caddo County, Oklahoma
Property taxes in Hinton, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hinton is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Hinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hinton 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 Hinton's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73047 zip code has the highest median property tax rate of 0.73%, while the 73047 zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Hinton provides valuable insights into the varying tax landscape across Caddo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hinton Tax Rate
0.73%
Average Caddo County Tax Rate
0.63%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hinton, Caddo County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73047 | 0.33% | 0.54% | 0.73% | 0.90% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Hinton, Caddo County, Oklahoma
In Hinton, 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 Caddo County Assessor 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 Hinton, 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 Hinton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 73047 has the highest and lowest median tax bill at $599.
Property Tax Assessment Values Across Hinton, Caddo County, Oklahoma
Source: Ownwell
$39,880
$74,560
$109,240
Average Hinton Assessed Value
$85,392
Average Caddo County Assessed Value
$58,902
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hinton, Caddo County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73047 | $25,306 | $41,486 | $85,392 | $145,655 | $219,629 |
Source: Ownwell
Property Tax Bills Across Hinton, Caddo County, Oklahoma
Property tax bills in Hinton, located in Caddo County, OK, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $85,392 in Hinton, homeowners can expect varying tax bills. The tax bill at the 25th percentile is approximately $206, while at the 75th percentile, it rises to around $1,144. At the 90th percentile, homeowners might see tax bills as high as $1,843. Factors such as property improvements, neighborhood developments, and changes in the local economy can influence the assessed value, thereby affecting the tax bill. Compared to the national median property tax rate of 0.99%, Hinton's property tax rates can significantly impact homeowners, making it crucial for them to stay informed about their property's assessed value and any potential exemptions they might qualify for.
Average Hinton Tax Bill
$599
Average Caddo County Tax Bill
$341
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hinton, Caddo County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73047 | $119 | $206 | $599 | $1,144 | $1,843 |
Source: Ownwell