Ratliff City, Stephens County, Oklahoma Property Taxes
The median property tax rate in Ratliff City, OK is 0.73%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Ratliff City at $76,870, the typical annual property tax bill comes to $506, significantly below the national median of $2,690. Property taxes in Ratliff City are calculated based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Ratliff City's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Ratliff City or another part of Stephens County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ratliff City, Stephens County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$561
$521
Ownwell’s Ratliff City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ratliff City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ratliff City 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 Ratliff City, Stephens County, Oklahoma
Property taxes in Ratliff City, Oklahoma, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Ratliff City is 0.73%, which is lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Ratliff City set these rates annually, and they can vary across different neighborhoods. Each year, Ratliff City 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 Ratliff City's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73481 zip code has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these areas compare with Ratliff City provides valuable insights into the varying tax landscape across Stephens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ratliff City Tax Rate
0.73%
Average Stephens County Tax Rate
0.81%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ratliff City, Stephens County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73481 | 0.44% | 0.60% | 0.73% | 0.78% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Ratliff City, Stephens County, Oklahoma
In Ratliff City, 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 Stephens 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 Ratliff City, 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 Ratliff City 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 $506, found in the 73481 zip code.
Property Tax Assessment Values Across Ratliff City, Stephens County, Oklahoma
Source: Ownwell
$61,393
$83,240
$105,087
Average Ratliff City Assessed Value
$76,870
Average Stephens County Assessed Value
$86,689
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ratliff City, Stephens County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73481 | $22,547 | $47,258 | $76,870 | $119,504 | $156,666 |
Source: Ownwell
Property Tax Bills Across Ratliff City, Stephens County, Oklahoma
In Ratliff City, located in Stephens County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. Homeowners in this region experience varied tax bills, influenced by factors such as property size, location, and market conditions. The median home price in Ratliff City is $76,870, and the tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners in the lower 25th percentile pay around $289 annually, while those in the 75th percentile see bills closer to $886. At the higher end, the 90th percentile tax bill reaches approximately $1,206. Compared to the national median property tax rate of 0.99%, Ratliff City offers relatively affordable property taxes, providing some financial relief to homeowners. This variability in tax bills directly impacts homeowners' budgets, making it crucial for them to understand how their property is assessed and what factors contribute to their specific tax obligations.
Average Ratliff City Tax Bill
$506
Average Stephens County Tax Bill
$664
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ratliff City, Stephens County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73481 | $148 | $289 | $506 | $886 | $1,206 |
Source: Ownwell