Custer City, Custer County, Oklahoma Property Taxes
The median property tax rate in Custer City, OK is 0.70%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Custer City at $68,377, the typical annual property tax bill amounts to $491, which is well below the national median of $2,690. Property taxes in Custer City are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Custer City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Custer City or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Custer City, Custer County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$479
$444
Ownwell’s Custer City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Custer City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Custer 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 Custer City, Custer County, Oklahoma
Property taxes in Custer City, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Custer City is 0.70%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Custer City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Custer 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 Custer City's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73639 zip code has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Custer City 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 Custer City Tax Rate
0.70%
Average Custer County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Custer City, Custer County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73639 | 0.37% | 0.53% | 0.70% | 0.90% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Custer City, Custer County, Oklahoma
In Custer 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 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 Custer 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 Custer City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $68,377, with the highest median tax bill in the 73639 zip code being $491.
Property Tax Assessment Values Across Custer City, Custer County, Oklahoma
Source: Ownwell
$61,877
$126,373
$190,869
Average Custer City Assessed Value
$68,377
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 Custer City, Custer County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73639 | $15,381 | $40,484 | $68,377 | $108,154 | $173,826 |
Source: Ownwell
Property Tax Bills Across Custer City, Custer County, Oklahoma
In Custer City, located in Custer County, OK, property tax bills are calculated based on the assessed value of a property, which is derived from its market value. The median home price in Custer City stands at $68,377. Property tax rates are applied to this assessed value to determine the annual tax bill. For homeowners, this means that the amount they owe in property taxes can vary significantly depending on the assessed value of their home and the applicable tax rate. Factors considered in determining the tax bill include the home's market value, local tax rates, and any applicable exemptions. Homeowners in Custer City can expect tax bills ranging from the 25th percentile at $218 to the 75th percentile at $824, with the 90th percentile reaching up to $1,285. Compared to the national median property tax rate of 0.99%, Custer City's tax rates provide a relatively affordable tax environment for homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and budget accordingly.
Average Custer City Tax Bill
$491
Average Custer County Tax Bill
$977
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Custer City, Custer County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73639 | $106 | $218 | $491 | $824 | $1,285 |
Source: Ownwell