Manchester, Oklahoma Property Taxes
The median property tax rate in Manchester, OK is 0.42%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Manchester, the typical annual property tax bill amounts to $369, which is well below the national median of $2,690. Property taxes in Manchester 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 Manchester'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 Manchester 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
Manchester, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$379
-$3,968
Ownwell’s Manchester Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Manchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manchester 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 Manchester, Oklahoma
Property taxes in Manchester, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manchester is 0.42%, significantly lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Manchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manchester 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 Manchester's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73758 has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Manchester provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manchester Tax Rate
0.42%
Average Grant County Tax Rate
0.60%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manchester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73758 | 0.16% | 0.30% | 0.42% | 0.66% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Manchester, Oklahoma
In Manchester, 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 Grant 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 Manchester, 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 Manchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $369 in zip code 73758.
Average Manchester Assessed Value
$90,146
Average Grant County Assessed Value
$83,486
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manchester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73758 | $24,652 | $50,992 | $90,146 | $135,026 | $191,245 |
Source: Ownwell
Property Tax Bills Across Manchester, Oklahoma
In Manchester, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Manchester, located in Grant County, typically see a range of property tax bills. For instance, the 25th percentile of tax bills is around $145, while the 75th percentile reaches up to $732. The 90th percentile can go as high as $1071. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. The median home price in Manchester is $90,146, which is relatively modest compared to national averages. This lower home value translates to more manageable property tax bills for residents. However, the highest median tax bill in the area is $369, found in the 73758 zip code. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Manchester Tax Bill
$369
Average Grant County Tax Bill
$460
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Manchester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73758 | $69 | $145 | $369 | $732 | $1,071 |
Source: Ownwell