Arcadia, Oklahoma County, Oklahoma Property Taxes
The median property tax rate in Arcadia, Oklahoma is 0.92%, which is slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Arcadia, the typical annual property tax bill reaches $4,635, significantly higher than the national median of $2,690. Property taxes in Arcadia are calculated based on the tax assessed value, which often 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 County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$4,598
$4,267
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 County, Oklahoma
Property taxes in Arcadia, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arcadia is 0.92%, slightly below the U.S. national median of 0.99%. Local government entities within Arcadia set these rates annually, and they can vary significantly 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 counties in Oklahoma and the national median. For comparison, the 73007 zip code has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Arcadia provides valuable insights into the varying tax landscape across Oklahoma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arcadia Tax Rate
0.92%
Average Oklahoma County Tax Rate
1.00%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arcadia, Oklahoma County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73007 | 0.58% | 0.74% | 0.92% | 1.01% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Arcadia, Oklahoma County, 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 Oklahoma 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 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. The highest and lowest median tax bills in Arcadia are both $4,635, found in the zip code 73007.
Property Tax Assessment Values Across Arcadia, Oklahoma County, Oklahoma
Source: Ownwell
$64,500
$428,500
$792,500
Average Arcadia Assessed Value
$499,750
Average Oklahoma County Assessed Value
$192,500
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arcadia, Oklahoma County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73007 | $105,450 | $272,625 | $499,750 | $856,375 | $1,225,100 |
Source: Ownwell
Property Tax Bills Across Arcadia, Oklahoma County, Oklahoma
In Arcadia, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $499,750, homeowners can expect varying tax bills. The 25th percentile tax bill is around $2,479, while the 75th percentile reaches approximately $8,160, and the 90th percentile can go up to $11,632. These figures highlight the range of property tax burdens within the city, influenced by factors such as home value and local tax rates. Compared to the national median property tax rate of 0.99%, Arcadia's property tax bills can significantly impact homeowners' finances. This variability means that understanding your property's assessed value and the local tax rate is crucial for effective financial planning and ensuring you’re prepared for your annual property tax obligations.
Average Arcadia Tax Bill
$4,635
Average Oklahoma County Tax Bill
$1,891
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Arcadia, Oklahoma County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73007 | $1,055 | $2,479 | $4,635 | $8,160 | $11,632 |
Source: Ownwell