Eldorado, Jackson County, Oklahoma Property Taxes
The median property tax rate in Eldorado, OK is 0.85%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Eldorado at $27,210, the typical annual property tax bill is $211, significantly below the national median of $2,690. Property taxes in Eldorado 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 Eldorado'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 Eldorado 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
Eldorado, Jackson County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$231
$215
Ownwell’s Eldorado Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eldorado with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eldorado 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 Eldorado, Jackson County, Oklahoma
Property taxes in Eldorado, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eldorado is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Eldorado set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eldorado 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 Eldorado's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73537 in Jackson County has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Eldorado provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eldorado Tax Rate
0.85%
Average Jackson County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eldorado, Jackson County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73537 | 0.47% | 0.65% | 0.85% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Eldorado, Jackson County, Oklahoma
In Eldorado, 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 Jackson 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 Eldorado, 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. For instance, in Eldorado, the median home price is $27,210, with tax bills ranging from $132 at the 25th percentile to $610 at the 90th percentile. The zip code 73537 has the highest and lowest median tax bill of $211. Being aware of these valuation processes in Eldorado helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Eldorado, Jackson County, Oklahoma
Source: Ownwell
$27,210
$53,821
$80,431
Average Eldorado Assessed Value
$27,210
Average Jackson County Assessed Value
$62,313
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eldorado, Jackson County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73537 | $11,596 | $18,605 | $27,210 | $50,320 | $90,274 |
Source: Ownwell
Property Tax Bills Across Eldorado, Jackson County, Oklahoma
In Eldorado, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is determined by the Jackson County Assessor's Office. The assessed value typically represents a percentage of the property's market value. Homeowners in Eldorado can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $132 and the 75th percentile reaching $357. For those at the 90th percentile, tax bills can go up to $610. These figures are relatively low compared to the national median property tax rate of 0.99%, making Eldorado an attractive location for homeowners looking to minimize their tax burden. Several factors influence the property tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or reductions. The highest median tax bill in the area is $211, recorded in the 73537 zip code. Understanding these elements can help homeowners anticipate their annual property tax expenses and manage their finances more effectively.
Average Eldorado Tax Bill
$211
Average Jackson County Tax Bill
$496
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Eldorado, Jackson County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73537 | $72 | $132 | $211 | $357 | $610 |
Source: Ownwell