Blanchard, Oklahoma Property Taxes
The median property tax rate in Blanchard, OK is 0.90%, 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 $227,622 in Blanchard, the typical annual property tax bill is approximately $1,870, falling below the national median of $2,690. Property taxes in Blanchard are calculated based on the assessed value, which often remains below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Blanchard’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 Blanchard or another part of McClain County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blanchard, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$2,049
Ownwell’s Blanchard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blanchard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blanchard 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 Blanchard, Oklahoma
Property taxes in Blanchard, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blanchard is 0.90%, slightly lower than the U.S. national median of 0.99%. Local government entities within Blanchard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blanchard 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 Blanchard's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 73010 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Blanchard provides valuable insights into the varying tax landscape across McClain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blanchard Tax Rate
0.90%
Average Mcclain County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blanchard, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73010 | 0.39% | 0.63% | 0.90% | 1.08% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Blanchard, Oklahoma
In Blanchard, 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 McClain 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 Blanchard, 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 Blanchard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 73010, with a tax bill of $1,870.
Average Blanchard Assessed Value
$227,622
Average Mcclain County Assessed Value
$212,546
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blanchard, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73010 | $84,326 | $143,472 | $227,622 | $312,602 | $414,682 |
Source: Ownwell
Property Tax Bills Across Blanchard, Oklahoma
In Blanchard, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in McClain County, where Blanchard is located, the median home price is $227,622. Property tax bills can vary widely, with the 25th percentile paying around $911 and the 75th percentile facing bills up to $3,000. At the 90th percentile, tax bills can reach as high as $4,187. These taxes are essential for funding local services such as schools, road maintenance, and emergency services. Homeowners in Blanchard should be aware that their property tax bill can significantly impact their annual budgeting. Despite the variation, the highest and lowest median tax bills in the area both stand at $1,870, which is below the national median property tax rate of 0.99%. This relatively lower tax rate can make homeownership more affordable in Blanchard compared to other regions.
Average Blanchard Tax Bill
$1,870
Average Mcclain County Tax Bill
$1,871
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Blanchard, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73010 | $463 | $911 | $1,870 | $3,000 | $4,187 |
Source: Ownwell