Sayre, Oklahoma Property Taxes
The median property tax rate in Sayre, OK is 0.81%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $68,700 in Sayre, the typical annual property tax bill amounts to $495, significantly below the national median of $2,690. Property taxes in Sayre are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sayre'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 Sayre 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
Sayre, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$556
Ownwell’s Sayre Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sayre with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sayre 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 Sayre, Oklahoma
Property taxes in Sayre, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sayre is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Sayre set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sayre 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 Sayre's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73662 has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Sayre provides valuable insights into the varying tax landscape across Beckham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sayre Tax Rate
0.81%
Average Beckham County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sayre, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73662 | 0.34% | 0.55% | 0.81% | 0.96% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Sayre, Oklahoma
In Sayre, 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 Beckham 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. 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 Sayre helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill in Sayre is 73662, with a median tax bill of $495.
Average Sayre Assessed Value
$68,700
Average Beckham County Assessed Value
$93,844
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sayre, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73662 | $22,543 | $35,416 | $68,700 | $134,034 | $215,049 |
Source: Ownwell
Property Tax Bills Across Sayre, Oklahoma
In Sayre, Oklahoma, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is a percentage of the property's market value. Factors such as property size, location, and condition are considered to determine this assessed value. Homeowners in Sayre, located in Beckham County, face property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is about $227, while at the 75th percentile, it rises to $1,034. The highest median tax bill in the area is $495. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Sayre's property tax rates can be seen as relatively moderate, but they still represent a significant expense for homeowners. Understanding these factors helps residents anticipate their financial obligations and plan accordingly.
Average Sayre Tax Bill
$495
Average Beckham County Tax Bill
$783
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Sayre, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73662 | $107 | $227 | $495 | $1,034 | $1,847 |
Source: Ownwell