Stratford, Garvin County, Oklahoma Property Taxes
The median property tax rate in Stratford, OK is 0.69%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Stratford at $101,158, the typical annual property tax bill amounts to $644, significantly less than the national median of $2,690. Property taxes in Stratford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stratford'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 Stratford 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
Stratford, Garvin County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$698
$648
Ownwell’s Stratford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stratford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stratford 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 Stratford, Garvin County, Oklahoma
Property taxes in Stratford, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stratford is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Stratford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stratford 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 Stratford's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74872 has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Stratford provides valuable insights into the varying tax landscape across Garvin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stratford Tax Rate
0.69%
Average Garvin County Tax Rate
0.69%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stratford, Garvin County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74872 | 0.38% | 0.53% | 0.69% | 0.88% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Stratford, Garvin County, Oklahoma
In Stratford, 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 Garvin 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 Stratford, 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 Stratford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both $644.00, found in the 74872 zip code.
Property Tax Assessment Values Across Stratford, Garvin County, Oklahoma
Source: Ownwell
$60,180
$130,090
$200,000
Average Stratford Assessed Value
$101,158
Average Garvin County Assessed Value
$84,504
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stratford, Garvin County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74872 | $35,705 | $54,150 | $101,158 | $175,027 | $261,076 |
Source: Ownwell
Property Tax Bills Across Stratford, Garvin County, Oklahoma
In Stratford, located in Garvin County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. For homeowners in Stratford, the median home price is $101,158. Tax bills in this area can vary significantly. At the 25th percentile, homeowners might pay around $352, while at the 75th percentile, the tax bill could rise to $1,224. For those at the 90th percentile, the tax bill can reach up to $1,987. These property taxes impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Stratford's property tax bills reflect the local economic conditions and funding needs. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Stratford Tax Bill
$644
Average Garvin County Tax Bill
$559
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Stratford, Garvin County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74872 | $203 | $352 | $644 | $1,224 | $1,987 |
Source: Ownwell