Snyder, Oklahoma Property Taxes
The median property tax rate in Snyder, OK is 0.85%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Snyder at $67,430, the typical annual property tax bill is $612, significantly less than the national median of $2,690. Property taxes in Snyder are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Snyder'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 Snyder 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
Snyder, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$573
Ownwell’s Snyder Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Snyder with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Snyder 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 Snyder, Oklahoma
Property taxes in Snyder, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Snyder is 0.75%, 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 Snyder set these rates annually, and they can vary significantly across different neighborhoods. Each year, Snyder 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 Snyder's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73566 zip code has the highest median property tax rate of 0.85%, while the lowest median tax rate is also 0.85% in the same zip code. Understanding how these cities compare with Snyder provides valuable insights into the varying tax landscape across Kiowa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Snyder Tax Rate
0.85%
Average Tillman County Tax Rate
0.98%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Snyder, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73566 | 0.72% | 0.77% | 0.85% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Snyder, Oklahoma
In Snyder, 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 Tillman 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 Snyder, 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. The median home price in Snyder is $67,430, with tax bills ranging from $328 at the 25th percentile to $1,172 at the 90th percentile. The highest and lowest median tax bills both occur in the 73566 zip code, with a value of $612. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Snyder Assessed Value
$67,430
Average Tillman County Assessed Value
$29,168
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Snyder, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73566 | $36,456 | $42,998 | $67,430 | $114,684 | $150,105 |
Source: Ownwell
Property Tax Bills Across Snyder, Oklahoma
In Snyder, property tax bills are calculated based on the assessed value of the property, which is determined by the local county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property’s location, size, and market value all play a role in determining the assessed value. For homeowners in Snyder, the median home price is $67,430, and the median property tax rate in Tillman County is relatively modest compared to the national median of 0.99%. Homeowners in Snyder can expect their property tax bills to vary widely. The 25th percentile tax bill is around $328, while the 75th percentile reaches $959, and the 90th percentile can go up to $1,172. This variation can significantly impact homeowners, influencing their monthly expenses and overall affordability of owning a home. Understanding these factors can help homeowners budget more effectively and anticipate their annual financial obligations.
Average Snyder Tax Bill
$612
Average Tillman County Tax Bill
$271
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Snyder, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73566 | $260 | $328 | $612 | $959 | $1,172 |
Source: Ownwell