Madill, Carter County, Oklahoma Property Taxes
Median Madill, OK effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Madill, OK home value: $178,927
Median annual Madill, OK tax bill: $1,284, $1,116 lower than the national median property tax bill of $2,400.
How are property taxes in Carter County calculated?
Property taxes in Madill, OK are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Madill’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Madill, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Madill, Carter County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.74%
Estimate Property Tax Bill
$1,324
$1,229
Property Tax Rates Across Madill, Carter County, Oklahoma
Local government entities determine tax rates, which can significantly differ within a state. This variability arises because each county annually estimates its budgetary needs to fund services and divides this by the total value of all taxable property in its area. This calculation establishes the property tax rate. Although votes and regulations play a role in setting these rates and budgets, this is essentially the yearly process.
In Madill, located in Carter County, Oklahoma, the effective property tax rate is 0.74%. This rate is lower than the national median property tax rate of 1.02%. The median property tax bill in Madill is also likely lower than the national median bill of $2,400, given the lower tax rate. Comparing Madill's rate to other cities in Oklahoma, it aligns with the state's overall trend of having relatively low property tax rates. This can be an appealing factor for property owners looking for affordability in their tax obligations. Understanding these rates and how they compare both statewide and nationally can be crucial for property owners in making informed decisions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Madill Tax Rate
0.74%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Carter County Tax Rate
0.85%
Median Effective Oklahoma Tax Rate
0.97%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Madill, Carter County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73446 | 0.48% | 0.55% | 0.74% | 0.95% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Madill, Carter County, Oklahoma
When examining property taxes in Madill, Oklahoma, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Carter County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Carter County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Madill. For example, the median home price in Madill is $178,927, with tax bills ranging significantly across the county. Zip code 73446 has the highest median home price at $178,927.
Property Tax Assessment Values Across Madill, Carter County, Oklahoma
Source: Ownwell
$44,000
$111,464
$178,927
Median Madill Market Value
$178,927
Median Carter County Market Value
$117,168
Median Oklahoma Market Value
$137,280
Median United States Market Value
$235,294
Property Tax Assessment Values Across Madill, Carter County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73446 | $79,651 | $111,012 | $178,927 | $227,722 | $272,757 |
Source: Ownwell
Property Tax Bills Across Madill, Carter County, Oklahoma
In Madill, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the final tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Madill, the median home price is $178,927, with property tax bills ranging from $608 at the 25th percentile to $2,400 at the 90th percentile. Compared to the national median property tax bill of $2,400, homeowners in Madill may find their tax bills relatively manageable, with the highest median tax bill in the area being $1,284.
Ownwell can assist homeowners in Madill by identifying potential savings on their property tax bills. By analyzing property assessments and ensuring they are fair and accurate, Ownwell helps homeowners file appeals and secure exemptions, potentially reducing their annual tax burden. This service ensures that homeowners only pay their fair share, offering peace of mind and financial relief.
Median Madill Tax Bill
$1,284
Median Carter County Tax Bill
$941
Median Oklahoma Tax Bill
$1,269
Median United States Tax Bill
$2,400
Property Tax Bills Across Madill, Carter County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73446 | $496 | $608 | $1,284 | $2,036 | $2,400 |
Source: Ownwell