Arapaho, Oklahoma Property Taxes
The median property tax rate in Arapaho, OK is 0.89%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $78,046 in Arapaho, the typical annual property tax bill is $659, significantly lower than the national median of $2,690. Property taxes in Arapaho are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Arapaho'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 Arapaho 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
Arapaho, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$695
Ownwell’s Arapaho Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arapaho with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arapaho 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 Arapaho, Oklahoma
Property taxes in Arapaho, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arapaho is 0.89%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Arapaho set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arapaho 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 Arapaho's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73620 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Arapaho provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arapaho Tax Rate
0.89%
Average Custer County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arapaho, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73620 | 0.45% | 0.67% | 0.89% | 0.98% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Arapaho, Oklahoma
In Arapaho, 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 Custer 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 Arapaho, 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 Arapaho helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Arapaho is $78,046, with tax bills ranging from $395 at the 25th percentile to $1,839 at the 90th percentile. The highest and lowest median tax bills both stand at $659 in the 73620 zip code.
Average Arapaho Assessed Value
$78,046
Average Custer County Assessed Value
$105,000
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arapaho, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73620 | $33,064 | $51,742 | $78,046 | $118,000 | $204,743 |
Source: Ownwell
Property Tax Bills Across Arapaho, Oklahoma
In Arapaho, located in Custer County, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county uses this assessed value to determine the tax bill by applying the local tax rate. For instance, with a median home price of $78,046, homeowners in Arapaho can expect a property tax bill that typically ranges from $395 at the 25th percentile to $1,100 at the 75th percentile. The 90th percentile sees tax bills as high as $1,839. Several factors influence the tax bill, including property improvements, changes in market conditions, and local tax rates. These taxes fund essential community services such as schools, infrastructure, and emergency services. Homeowners in Arapaho benefit from relatively moderate property taxes compared to the national median property tax rate of 0.99%, making it a financially advantageous location for property ownership. Understanding these factors can help homeowners anticipate their annual property tax obligations and budget accordingly.
Average Arapaho Tax Bill
$659
Average Custer County Tax Bill
$977
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Arapaho, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73620 | $209 | $395 | $659 | $1,100 | $1,839 |
Source: Ownwell