Orlando, Oklahoma Property Taxes
The median property tax rate in Orlando, OK is 0.65%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $139,274 in Orlando, the typical annual property tax bill amounts to $979, well below the national median of $2,690. Property taxes in Orlando are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Orlando'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 Orlando or another part of Noble County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Orlando, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$905
-$9,487
Ownwell’s Orlando Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Orlando with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orlando to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Orlando, Oklahoma
Property taxes in Orlando, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orlando is 0.65%, lower than both the U.S. national median of 0.99%. Local government entities within Orlando set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orlando 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 Orlando's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73073 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Orlando provides valuable insights into the varying tax landscape across Noble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orlando Tax Rate
0.65%
Average Noble County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orlando, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73073 | 0.44% | 0.54% | 0.65% | 0.80% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Orlando, Oklahoma
In Orlando, 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 Noble 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 Orlando, 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 Orlando helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 73073 in Orlando has the highest and lowest median tax bill, both at $979.
Average Orlando Assessed Value
$139,274
Average Noble County Assessed Value
$78,656
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orlando, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73073 | $63,735 | $90,424 | $139,274 | $201,614 | $265,900 |
Source: Ownwell
Property Tax Bills Across Orlando, Oklahoma
Property tax bills in Orlando, Noble County, OK, are calculated based on the assessed value of a property, which is a percentage of its market value. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For instance, the median home price in the area is $139,274, and the property tax rate is applied to this assessed value to determine the tax bill. Homeowners in Orlando can expect their tax bills to vary significantly. The 25th percentile tax bill stands at $504, while the 75th percentile reaches $1,344, and the 90th percentile climbs to $1,982. This range demonstrates the impact of property value and local tax rates on individual tax liabilities. Notably, the highest and lowest median tax bills in the area are both $979, indicating a consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Orlando's tax rates offer a relatively predictable financial obligation for homeowners, ensuring they are well-informed about their annual property tax responsibilities.
Average Orlando Tax Bill
$979
Average Noble County Tax Bill
$666
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Orlando, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73073 | $329 | $504 | $979 | $1,344 | $1,982 |
Source: Ownwell