What You’ll Pay in Property Taxes in Norman
In Norman, OK, the typical property tax rate is around 0.9% of a home’s assessed value annually. Property taxes in Norman are generally in line with the state average, typically falling between 0.8%–1.2% per year.
For a home valued at $295,000, that translates to an annual property tax bill of approximately $2,655. Keep in mind that rates can vary slightly depending on the specific location and assessed value of a property.
Oklahoma’s property tax rates tend to be lower than the national average, making homeownership costs more affordable compared to many other states. Still, it’s important for prospective buyers to factor in this ongoing expense when budgeting for a home purchase in Norman.
How HOA Fees Work in Norman
In addition to property taxes, many neighborhoods in Norman have Homeowners Associations (HOAs) that charge monthly fees. These fees go toward maintaining shared spaces and providing community amenities.
Common expenses covered by HOA fees in Norman include:
- Trash collection
- Landscaping of common areas
- Community pool maintenance
- Neighborhood security patrols
- Clubhouse or fitness center upkeep
- Irrigation and xeriscaping services
The specific amenities and services provided vary between neighborhoods. In general, communities with more extensive offerings like gated entrances, tennis courts, and private parks will have higher monthly fees.
Typical Monthly HOA Costs
In Norman, monthly HOA fees often range from $70 to $200 per household. Neighborhoods with fewer amenities tend to have lower HOA fees, like $70–$120/month, while luxury developments can charge upwards of $350/month.
| Neighborhood Type | Typical Monthly HOA Fee |
|---|---|
| Low-amenity neighborhood | $70–$120 |
| Average suburban development | $120–$200 |
| Luxury, amenity-rich community | $200–$350+ |
| Example: $295k home, 0.9% tax, $150 HOA | $370 total monthly |
For a $295,000 home with a 0.9% property tax rate and a $150 monthly HOA fee, the total comes to around $370 per month. Over the course of a year, a homeowner in this situation would pay $4,440 in combined property taxes and HOA fees.
Hidden or Seasonal Fees to Expect
On top of regular monthly HOA dues, Norman residents should be aware of potential hidden or seasonal fees:
- Permit fees for exterior home improvements
- Bulk trash removal surcharges
- Irrigation overage charges during summer
- New resident processing fees when moving in
In the summer months, irrigation surcharges for homeowners in Norman can add up to $50/month, especially for those with large lawns or non-native landscaping. Some neighborhoods also charge one-time assessment fees for special projects or emergency repairs.
To avoid surprises, ask for a full breakdown of an HOA’s fee structure, including seasonal costs and penalty fees. Getting a complete picture will help you understand all the hidden fees to watch out for when living in Norman.
Are These Costs Worth It?
While HOA fees can add significantly to monthly housing costs, many residents find that the benefits outweigh the expense. HOAs often provide enhanced security, responsive maintenance of community spaces, and consistent enforcement of neighborhood standards.
This oversight helps protect property values by ensuring all homes are well-maintained. Amenities like pools, gyms, and clubhouses provide recreation options right in the neighborhood. In Norman, HOA homes often retain higher resale value, especially in communities with premium offerings.
However, HOA living does mean abiding by community guidelines on things like exterior paint colors, parking rules, and pet restrictions. Some people prefer the freedom of a non-HOA neighborhood. It’s a tradeoff between individual autonomy and collective benefits.
FAQs About Property Tax and HOA in Norman
How much is the average HOA in Norman?
Typical HOA fees in Norman range from $70–$200 per month, depending on the amenities and services provided. Luxury neighborhoods can charge $350+/month.
Can your HOA fees increase?
Yes, HOA fees can increase over time to keep up with inflation, rising maintenance costs, or new community projects. However, HOAs must follow bylaws on how and when to raise fees.
Do you pay both property tax and HOA?
Yes, homeowners in Norman must pay both property taxes to the county and HOA fees to their neighborhood association. These are separate expenses on top of a monthly mortgage payment.
How do property tax rates compare between neighboring cities?
Property tax rates in Norman are similar to those in nearby Moore and Midwest City, which range from 0.8%–1.1%. Norman’s 0.9% average rate is slightly lower than in Oklahoma City and Edmond.
Is an HOA fee worth it for new homeowners?
It depends on your budget and priorities. HOA fees can provide access to amenities and services that would be costly to obtain individually, like a pool or gym. However, non-HOA neighborhoods offer more freedom and lower monthly costs.
Final Cost Insights for Norman Homeowners
When buying a home in Norman, budget for both property taxes (around 0.9% of home value) and HOA fees ($70–$200/month on average). Together, these expenses can add $300 or more to your monthly housing costs.
While that may seem daunting, keep in mind the tradeoffs. Considering the range of housing costs in Norman by type, HOA homes often provide the most amenities and retain the highest property values. Many residents find the benefits worth the added expense.
Ultimately, the right choice depends on your individual preferences and long-term homeownership goals. Explore cost breakdowns for various neighborhoods and work with a local real estate agent to find the best fit for your budget and lifestyle in Norman.