Stroud, Oklahoma Property Taxes
The median property tax rate in Stroud, OK is 0.75%, 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 Stroud at $84,803, the typical annual property tax bill is $561, significantly below the national median of $2,690. Property taxes in Stroud are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Stroud'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 Stroud 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
Stroud, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$636
Ownwell’s Stroud Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stroud with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stroud 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 Stroud, Oklahoma
Property taxes in Stroud, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stroud is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Stroud set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stroud 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 Stroud's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74079 has the same median property tax rate of 0.75%. Understanding how these areas compare with Stroud provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stroud Tax Rate
0.75%
Average Lincoln County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stroud, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74079 | 0.37% | 0.54% | 0.75% | 0.87% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Stroud, Oklahoma
In Stroud, 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 Lincoln 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 Stroud, 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. The median home price in Stroud is $84,803. The median tax bill ranges from $291 at the 25th percentile to $1,770 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 74079, with a median tax bill of $561. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stroud Assessed Value
$84,803
Average Lincoln County Assessed Value
$92,516
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stroud, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74079 | $22,487 | $47,396 | $84,803 | $141,546 | $212,942 |
Source: Ownwell
Property Tax Bills Across Stroud, Oklahoma
In Stroud, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, and local tax rates are then applied to this assessed value to determine the tax bill. Several factors influence the property tax bill, including the home's location, size, and condition. For homeowners in Stroud, the median home price is $84,803. The tax bill varies significantly, with the 25th percentile paying around $291 and the 75th percentile paying about $1,086, while the 90th percentile faces a tax bill of approximately $1,770. These figures highlight the range of property tax burdens within the city. Compared to the national median property tax rate of 0.99%, Stroud's rates can be considered relatively moderate. However, the impact on homeowners can still be substantial, especially for those at the higher end of the tax spectrum. Understanding these factors can help homeowners better anticipate and manage their property tax responsibilities.
Average Stroud Tax Bill
$561
Average Lincoln County Tax Bill
$648
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Stroud, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74079 | $140 | $291 | $561 | $1,086 | $1,770 |
Source: Ownwell