Clinton, Oklahoma Property Taxes
The median property tax rate in Clinton, OK is 1.07%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Clinton at $67,842, the typical annual property tax bill is $655, which is below the national median of $2,690. Property taxes in Clinton 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 Clinton'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 Clinton 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
Clinton, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$726
Ownwell’s Clinton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Clinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clinton 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 Clinton, Oklahoma
Property taxes in Clinton, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clinton is 1.07%, higher than the U.S. national median of 0.99%. Local government entities within Clinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clinton 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 Clinton's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73601 zip code has both the highest and lowest median property tax rate of 1.07%. Understanding how these cities compare with Clinton 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 Clinton Tax Rate
1.07%
Average Custer County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clinton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73601 | 0.56% | 0.83% | 1.07% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Clinton, Oklahoma
In Clinton, 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 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 Clinton, 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. The median home price in Clinton is $67,842, with tax bills ranging from $323 at the 25th percentile to $2,044 at the 90th percentile. 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 Clinton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clinton Assessed Value
$67,842
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 Clinton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73601 | $23,000 | $37,276 | $67,842 | $127,028 | $190,918 |
Source: Ownwell
Property Tax Bills Across Clinton, Oklahoma
In Clinton, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The Custer County Assessor's office determines this assessed value, and local tax rates are applied to calculate the final tax bill. Factors such as property location, size, and improvements can influence the assessed value. For instance, the median home price in Clinton is $67,842. Property taxes in the area can vary significantly, with tax bills at the 25th percentile around $323 and those at the 75th percentile reaching $1,333. The highest median tax bill in the 73601 zip code is $655, which is below the national median property tax rate of 0.99%. These property taxes fund essential local services, including schools, public safety, and infrastructure, directly impacting homeowners by contributing to the community's overall quality of life. Understanding these factors helps homeowners anticipate their financial responsibilities and the benefits they receive in return.
Average Clinton Tax Bill
$655
Average Custer County Tax Bill
$977
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Clinton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73601 | $185 | $323 | $655 | $1,333 | $2,044 |
Source: Ownwell