Blanco, Oklahoma Property Taxes
The median property tax rate in Blanco, OK is 0.94%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Blanco, the typical annual property tax bill amounts to $547, significantly lower than the national median of $2,690. Property taxes in Blanco are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Blanco's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Blanco or another part of Pittsburg County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blanco, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$525
-$5,505
Ownwell’s Blanco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blanco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blanco 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 Blanco, Oklahoma
Property taxes in Blanco, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blanco is 1.04%, higher than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Blanco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blanco 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 Blanco's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74528 zip code has the highest median property tax rate of 1.04%, while the 74528 zip code has the lowest median tax rate of 1.04%. Understanding how these cities compare with Blanco provides valuable insights into the varying tax landscape across Pittsburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blanco Tax Rate
0.94%
Average Pittsburg County Tax Rate
0.73%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blanco, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74528 | 0.75% | 0.87% | 0.94% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Blanco, Oklahoma
In Blanco, 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 Pittsburg 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 Blanco, 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. For instance, the median home price in Blanco is $55,877, with tax bills ranging from $183 at the 25th percentile to $1,964 at the 90th percentile. 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 Blanco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Blanco Assessed Value
$55,877
Average Pittsburg County Assessed Value
$87,046
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blanco, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74528 | $12,085 | $38,941 | $55,877 | $104,555 | $216,696 |
Source: Ownwell
Property Tax Bills Across Blanco, Oklahoma
In Blanco, Pittsburg County, OK, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The median home price in Blanco is $55,877. Homeowners in this area can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $183, while at the 75th percentile, it rises to $932. At the 90th percentile, homeowners may pay as much as $1,964. These variations are due to differences in property values and the specific assessment rates applied. The highest median tax bill in the region is $547, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. Understanding how property tax bills are determined helps homeowners budget effectively and recognize the value of the services their taxes support.
Average Blanco Tax Bill
$547
Average Pittsburg County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Blanco, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74528 | $103 | $183 | $547 | $932 | $1,964 |
Source: Ownwell