Ringling, Love County, Oklahoma Property Taxes
The median property tax rate in Ringling, OK is 0.78%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $86,774 in Ringling, the typical annual property tax bill amounts to $711, which is significantly below the national median of $2,690. Property taxes in Ringling are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Ringling's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ringling or another part of Love County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ringling, Love County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$677
$628
Ownwell’s Ringling Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ringling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ringling to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular insights, neighborhood-level trends are available below. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Ringling, Love County, Oklahoma
Property taxes in Ringling, Oklahoma, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Ringling is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Ringling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ringling 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 Ringling's effective property tax rate to other areas and the national median. For comparison, the zip code 73456 has both the highest and lowest median property tax rate of 0.78%. Understanding how these areas compare with Ringling provides valuable insights into the varying tax landscape across Love County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ringling Tax Rate
0.78%
Average Love County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ringling, Love County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73456 | 0.46% | 0.61% | 0.78% | 0.96% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Ringling, Love County, Oklahoma
In Ringling, 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 Love 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 Ringling, 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, the median home price in Ringling is $86,774, with tax bills ranging from $250 at the 25th percentile to $2,554 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Ringling, Love County, Oklahoma
Source: Ownwell
$43,516
$88,411
$133,306
Average Ringling Assessed Value
$86,774
Average Love County Assessed Value
$84,103
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ringling, Love County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73456 | $20,647 | $32,659 | $86,774 | $145,767 | $270,081 |
Source: Ownwell
Property Tax Bills Across Ringling, Love County, Oklahoma
In Ringling, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $86,774, homeowners in Ringling can expect varying tax bills depending on the assessed value and applicable tax rate. The lowest median tax bill in the area is $711, while the highest reaches the same amount, indicating a uniform tax rate within certain zones. Factors such as property size, location, and any applicable exemptions are considered in the assessment process. Homeowners at the 25th percentile pay around $250, while those at the 75th percentile face bills of approximately $1,316. At the 90th percentile, the tax bill can be as high as $2,554. These property taxes contribute significantly to local services, impacting the overall cost of homeownership in Ringling. Comparatively, the national median property tax rate is 0.99%, highlighting Ringling's relatively moderate tax burden.
Average Ringling Tax Bill
$711
Average Love County Tax Bill
$778
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ringling, Love County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73456 | $157 | $250 | $711 | $1,316 | $2,554 |
Source: Ownwell