Orlando, Payne County, Oklahoma Property Taxes
The median property tax rate in Orlando, OK is 0.75%, 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 $227,060 in Orlando, the typical annual property tax bill amounts to $1,598, significantly below the national median of $2,690. Property taxes in Orlando are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. 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 the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Orlando, Payne County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,703
$1,580
Ownwell’s Orlando Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner 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 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 Orlando, Payne County, Oklahoma
Property taxes in Orlando, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orlando is 0.75%, which is lower than 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 zip code 73073 has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Orlando provides valuable insights into the varying tax landscape across Payne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orlando Tax Rate
0.75%
Average Payne County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orlando, Payne County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73073 | 0.56% | 0.67% | 0.75% | 0.84% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Orlando, Payne County, 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 Payne County Appraisal District 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 highest and lowest median tax bills in Orlando are both $1,598, with the corresponding zip code being 73073.
Property Tax Assessment Values Across Orlando, Payne County, Oklahoma
Source: Ownwell
$79,710
$153,385
$227,060
Average Orlando Assessed Value
$227,060
Average Payne County Assessed Value
$185,340
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orlando, Payne County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73073 | $88,426 | $143,930 | $227,060 | $486,052 | $543,293 |
Source: Ownwell
Property Tax Bills Across Orlando, Payne County, Oklahoma
Property tax bills in Orlando, located in Payne County, OK, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by county assessors. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For instance, the median home price in Orlando is $227,060. Homeowners in the 25th percentile can expect a tax bill around $927, while those in the 75th percentile may face a bill as high as $3,346. At the 90th percentile, tax bills can reach $4,635. Comparatively, the national median property tax rate is 0.99%, which can help homeowners gauge their local tax burden. High property tax bills can significantly impact homeowners, affecting their monthly mortgage payments and overall financial planning. Understanding how these taxes are calculated is crucial for budgeting and long-term financial health.
Average Orlando Tax Bill
$1,598
Average Payne County Tax Bill
$1,635
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Orlando, Payne County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73073 | $617 | $927 | $1,598 | $3,346 | $4,635 |
Source: Ownwell