Hillsdale, Oklahoma Property Taxes
The median property tax rate in Hillsdale, OK is 0.98%, just below the national median of 0.99% but slightly higher than the Oklahoma state median of 0.97%. With the median home value in Hillsdale at $51,260, the typical annual property tax bill is $353, which is significantly lower than the national median of $2,690. Property taxes in Hillsdale 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 Hillsdale'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 Hillsdale 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
Hillsdale, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$502
Ownwell’s Hillsdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hillsdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsdale 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 Hillsdale, Oklahoma
Property taxes in Hillsdale, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsdale is 0.87%, which is lower than both the Oklahoma state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Hillsdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsdale 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 Hillsdale's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73743 zip code has the highest median property tax rate of 0.98%, while the same zip code also has the lowest median tax rate of 0.98%. Understanding how these cities compare with Hillsdale provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsdale Tax Rate
0.98%
Average Garfield County Tax Rate
1.14%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsdale, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73743 | 0.31% | 0.54% | 0.98% | 1.14% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Hillsdale, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hillsdale, Oklahoma. 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 Garfield 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 Hillsdale, 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. For instance, the median home price in Hillsdale is $51,260, with tax bills ranging from $225 at the 25th percentile to $1,014 at the 90th percentile. Notably, the highest and lowest median tax bills, both $353, are found in the zip code 73743. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hillsdale Assessed Value
$51,260
Average Garfield County Assessed Value
$94,470
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsdale, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73743 | $28,808 | $34,390 | $51,260 | $68,600 | $89,244 |
Source: Ownwell
Property Tax Bills Across Hillsdale, Oklahoma
In Hillsdale, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Hillsdale is $51,260. Tax rates are applied to this assessed value to determine the annual property tax bill. Homeowners in Hillsdale typically see tax bills ranging from $225 at the 25th percentile to $593 at the 75th percentile. For those at the 90th percentile, tax bills can reach up to $1,014. Several factors influence these tax bills, including the property's assessed value, local tax rates, and applicable exemptions. Homeowners should be aware that even slight changes in assessed value or tax rates can significantly impact their annual tax obligations. Compared to the national median property tax rate of 0.99%, Hillsdale's rates offer a relatively affordable option for homeowners. This affordability can make a significant difference in overall housing costs, providing a financial advantage for residents.
Average Hillsdale Tax Bill
$353
Average Garfield County Tax Bill
$950
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsdale, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73743 | $119 | $225 | $353 | $593 | $1,014 |
Source: Ownwell