Cordell, Oklahoma Property Taxes
The median property tax rate in Cordell, OK is 0.87%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Cordell at $53,000, the typical annual property tax bill amounts to $427, significantly less than the national median of $2,690. Property taxes in Cordell 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 Cordell'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 Cordell 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
Cordell, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$461
Ownwell’s Cordell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cordell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cordell 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 Cordell, Oklahoma
Property taxes in Cordell, Oklahoma, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cordell is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Cordell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cordell 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 Cordell's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73632 zip code has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Cordell provides valuable insights into the varying tax landscape across Washita County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cordell Tax Rate
0.87%
Average Washita County Tax Rate
0.77%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cordell, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73632 | 0.52% | 0.75% | 0.87% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Cordell, Oklahoma
In Cordell, 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 Washita 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 Cordell, 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 Cordell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 73632 has both the highest and lowest median tax bills at $427. The 25th percentile tax bill is $230, while the 75th percentile reaches $762, and the 90th percentile is $1,264.
Average Cordell Assessed Value
$53,000
Average Washita County Assessed Value
$56,348
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cordell, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73632 | $18,646 | $30,960 | $53,000 | $89,698 | $140,188 |
Source: Ownwell
Property Tax Bills Across Cordell, Oklahoma
In Cordell, located in Washita County, OK, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The median home price in Cordell is $53,000. Property taxes are then determined by applying the local tax rate to this assessed value. The local tax rate in Cordell is significantly lower than the national median property tax rate of 0.99%. Homeowners in Cordell experience a range of property tax bills. At the 25th percentile, the tax bill is approximately $230, while at the 75th percentile, it rises to $762. For those at the higher end, the 90th percentile tax bill reaches $1,264. This variation in tax bills reflects differences in property values and any applicable exemptions or deductions. The impact on homeowners can be significant, as property taxes contribute to the overall cost of owning a home. Lower property taxes in Cordell can make homeownership more affordable compared to areas with higher rates, providing a financial advantage to its residents.
Average Cordell Tax Bill
$427
Average Washita County Tax Bill
$399
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Cordell, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73632 | $123 | $230 | $427 | $762 | $1,264 |
Source: Ownwell