Hydro, Caddo County, Oklahoma Property Taxes
The median property tax rate in Hydro, Oklahoma is 0.65%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Hydro at $68,265, the typical annual property tax bill reaches $431, significantly less than the national median of $2,690. Property taxes in Hydro 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 Hydro'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 Hydro 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
Hydro, Caddo County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$444
$412
Ownwell’s Hydro Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hydro. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Hydro to provide an estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making it easier for you to plan your finances. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the amount determined by Caddo County for tax purposes, considering any applicable exemptions.
Property Tax Rates Across Hydro, Caddo County, Oklahoma
Property taxes in Hydro, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hydro is 0.65%, lower than the U.S. national median of 0.99%. Local government entities within Hydro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hydro 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 Hydro's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73048 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Hydro 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 Hydro Tax Rate
0.65%
Average Caddo County Tax Rate
0.63%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hydro, Caddo County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73048 | 0.30% | 0.47% | 0.65% | 0.86% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Hydro, Caddo County, Oklahoma
In Hydro, 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 Hydro, 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 Hydro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 73048 has both the highest and lowest median tax bill, standing at $431.
Property Tax Assessment Values Across Hydro, Caddo County, Oklahoma
Source: Ownwell
$39,880
$74,560
$109,240
Average Hydro Assessed Value
$68,265
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 Hydro, Caddo County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73048 | $25,412 | $40,810 | $68,265 | $120,480 | $184,162 |
Source: Ownwell
Property Tax Bills Across Hydro, Caddo County, Oklahoma
Property tax bills in Hydro, located in Caddo County, OK, are determined by assessing the value of a property and applying the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the tax rate set by local authorities. For homeowners in Hydro, the median home price stands at $68,265. The tax bill varies significantly within the city. For instance, the 25th percentile tax bill is approximately $215, while the 75th percentile tax bill is around $818. At the 90th percentile, homeowners can expect a tax bill close to $1,411. The highest median tax bill for any zip code in Hydro is $431.00, which is notably lower than the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, emergency services, and infrastructure maintenance. For homeowners, understanding these factors is crucial for financial planning and property investment decisions.
Average Hydro Tax Bill
$431
Average Caddo County Tax Bill
$341
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hydro, Caddo County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73048 | $118 | $215 | $431 | $818 | $1,411 |
Source: Ownwell