Amber, Oklahoma Property Taxes
The median property tax rate in Amber, Oklahoma is 0.94%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $131,193 in Amber, the typical annual property tax bill amounts to $1,053, which is considerably less than the national median of $2,690. Property taxes in Amber are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Amber'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 Amber or another part of Grady County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amber, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,233
Ownwell’s Amber Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amber with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amber 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 Amber, Oklahoma
Property taxes in Amber, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amber is 0.94%, which is slightly below the U.S. national median of 0.99%. Local government entities within Amber set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amber 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 Amber's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73004 has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Amber provides valuable insights into the varying tax landscape across Grady County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amber Tax Rate
0.94%
Average Grady County Tax Rate
1.03%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amber, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73004 | 0.40% | 0.66% | 0.94% | 1.08% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Amber, Oklahoma
In Amber, 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 Grady 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 Amber, 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 Amber helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 73004 in Amber has both the highest and lowest median tax bills at $1053.
Average Amber Assessed Value
$131,193
Average Grady County Assessed Value
$126,704
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amber, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73004 | $51,693 | $76,758 | $131,193 | $199,840 | $295,719 |
Source: Ownwell
Property Tax Bills Across Amber, Oklahoma
In Amber, located in Grady County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Amber, the median home price is $131,193, and property tax bills can vary widely. The 25th percentile tax bill is $586, while the 75th percentile reaches $1,803, and the 90th percentile can go as high as $2,810. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local rates. These taxes are crucial for funding public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Therefore, understanding how property tax bills are determined helps homeowners anticipate their financial obligations and plan accordingly.
Average Amber Tax Bill
$1,053
Average Grady County Tax Bill
$1,186
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Amber, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73004 | $283 | $586 | $1,053 | $1,803 | $2,810 |
Source: Ownwell