Reydon, Oklahoma Property Taxes
The median property tax rate in Reydon, OK is 0.56%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Reydon at $71,448, the typical annual property tax bill amounts to $433, which is well below the national median of $2,690. Property taxes in Reydon 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 Reydon'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 Reydon or another part of Roger Mills County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Reydon, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$400
Ownwell’s Reydon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reydon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reydon 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 Reydon, Oklahoma
Property taxes in Reydon, Oklahoma, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Reydon is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Reydon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reydon 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 Reydon's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73660 has both the highest and lowest median property tax rate of 0.56%. Understanding how these cities compare with Reydon provides valuable insights into the varying tax landscape across Roger Mills County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reydon Tax Rate
0.56%
Average Roger Mills County Tax Rate
0.65%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reydon, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73660 | 0.37% | 0.44% | 0.56% | 0.69% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Reydon, Oklahoma
In Reydon, 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 Roger Mills 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 Reydon, 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 Reydon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $433.00 in the zip code 73660.
Average Reydon Assessed Value
$71,448
Average Roger Mills County Assessed Value
$80,498
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reydon, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73660 | $19,471 | $36,157 | $71,448 | $150,470 | $214,553 |
Source: Ownwell
Property Tax Bills Across Reydon, Oklahoma
Property tax bills in Reydon, located in Roger Mills County, Oklahoma, are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, determined by local tax assessors. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For instance, with a median home price of $71,448 in Reydon, homeowners can expect varying tax bills. The 25th percentile tax bill is around $205, while the 75th percentile tax bill reaches $742. At the 90th percentile, the tax bill can be as high as $1,432. These figures indicate that property taxes can have a significant impact on homeowners' annual expenses, depending on the value and assessment of their property. Comparatively, the national median property tax rate is 0.99%, which may suggest that Reydon's property tax rates are relatively moderate. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Reydon Tax Bill
$433
Average Roger Mills County Tax Bill
$507
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Reydon, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73660 | $78 | $205 | $433 | $742 | $1,432 |
Source: Ownwell