Arcadia, Oklahoma Property Taxes
The median property tax rate in Arcadia, OK is 1.04%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Arcadia at $268,873, the typical annual property tax bill reaches $2,673, just below the national median of $2,690. Property taxes in Arcadia 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 Arcadia'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 Arcadia 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
Arcadia, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,796
Ownwell’s ARCADIA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ARCADIA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ARCADIA 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 Arcadia, Oklahoma
Property taxes in Arcadia, Oklahoma, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Arcadia is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Arcadia set these rates annually, with significant variations possible across different neighborhoods. Each year, Arcadia 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 Arcadia's effective property tax rate to other areas in Logan County and the national median. For comparison, the 73007 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these figures compare with Arcadia provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arcadia Tax Rate
1.04%
Average Logan County Tax Rate
0.98%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arcadia, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73007 | 0.77% | 0.92% | 1.04% | 1.06% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Arcadia, Oklahoma
In Arcadia, 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 Logan County Assessor's Office 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 Arcadia, 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 Arcadia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Arcadia's highest and lowest median tax bills are both $2,673, found in the 73007 zip code.
Average Arcadia Assessed Value
$268,873
Average Logan County Assessed Value
$165,842
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arcadia, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73007 | $31,538 | $84,432 | $268,873 | $450,232 | $529,742 |
Source: Ownwell
Property Tax Bills Across Arcadia, Oklahoma
In Arcadia, Logan County, OK, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by the county assessor. Several factors influence the tax bill, including the home's market value, local tax rates, and applicable exemptions or deductions. For homeowners in Arcadia, the median home price stands at $268,873. Property tax bills can vary significantly, with the 25th percentile paying around $745 and the 75th percentile facing bills up to $4,432. The 90th percentile sees even higher bills, reaching approximately $5,400. The highest and lowest median tax bill in the area is $2,673, located in the 73007 zip code. Compared to the national median property tax rate of 0.99%, Arcadia's property tax rates can have a substantial impact on homeowners' finances. Understanding these factors can help homeowners anticipate their tax liabilities and plan accordingly.
Average Arcadia Tax Bill
$2,673
Average Logan County Tax Bill
$1,451
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Arcadia, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73007 | $205 | $745 | $2,673 | $4,432 | $5,400 |
Source: Ownwell