Ratliff City, Carter County, Oklahoma Property Taxes
The median property tax rate in Ratliff City, OK is 0.50%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Ratliff City at $107,579, the typical annual property tax bill is $523, well below the national median of $2,690. Property taxes in Ratliff City 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 Ratliff City'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 Ratliff City 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
Ratliff City, Carter County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$538
$499
Ownwell’s Ratliff City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ratliff City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ratliff City 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 Ratliff City, Carter County, Oklahoma
Property taxes in Ratliff City, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ratliff City is 0.50%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Ratliff City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ratliff City 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 Ratliff City's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73481 has the highest median property tax rate of 0.50%, while the same zip code also has the lowest median tax rate of 0.50%. Understanding how these areas compare with Ratliff City provides valuable insights into the varying tax landscape across Carter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ratliff City Tax Rate
0.50%
Average Carter County Tax Rate
0.85%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ratliff City, Carter County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73481 | 0.24% | 0.35% | 0.50% | 0.67% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Ratliff City, Carter County, Oklahoma
In Ratliff City, 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 Carter 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 Ratliff City, 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 Ratliff City 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 Ratliff City is 73481, with a median tax bill of $523.
Property Tax Assessment Values Across Ratliff City, Carter County, Oklahoma
Source: Ownwell
$44,000
$111,464
$178,927
Average Ratliff City Assessed Value
$107,579
Average Carter County Assessed Value
$117,168
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ratliff City, Carter County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73481 | $42,324 | $68,774 | $107,579 | $176,140 | $271,733 |
Source: Ownwell
Property Tax Bills Across Ratliff City, Carter County, Oklahoma
In Ratliff City, located in Carter County, OK, property tax bills are calculated based on the assessed value of your home, 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 homeowners in Ratliff City, the median home price is approximately $107,579. Tax bills can vary significantly across the city. For instance, the 25th percentile tax bill is around $271, while those in the 75th percentile pay about $1,006. At the higher end, the 90th percentile tax bill can reach up to $1,675. Interestingly, the highest and lowest median tax bills in the area are both $523, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes fund essential services such as public schools, infrastructure, and emergency services. Homeowners should stay informed about their property's assessed value and the local tax rate to anticipate their annual tax obligations.
Average Ratliff City Tax Bill
$523
Average Carter County Tax Bill
$941
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ratliff City, Carter County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73481 | $147 | $271 | $523 | $1,006 | $1,675 |
Source: Ownwell