Stilwell, Oklahoma Property Taxes
The median property tax rate in Stilwell, OK is 0.86%, lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $75,930 in Stilwell, the typical annual property tax bill amounts to $604, significantly below the national median of $2,690. Property taxes in Stilwell 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 Stilwell'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 Stilwell or another part of Cherokee County, grasping the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stilwell, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$653
Ownwell’s Stilwell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stilwell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stilwell 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 Stilwell, Oklahoma
Property taxes in Stilwell, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stilwell is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Stilwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stilwell 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 Stilwell's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74960 zip code has both the highest and lowest median property tax rate of 0.86%. Understanding how these cities compare with Stilwell provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stilwell Tax Rate
0.86%
Average Cherokee County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stilwell, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74960 | 0.44% | 0.68% | 0.86% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Stilwell, Oklahoma
In Stilwell, 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 Cherokee 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 Stilwell, 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 Stilwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Stilwell are both $604.00, found in the zip code 74960.
Average Stilwell Assessed Value
$75,930
Average Cherokee County Assessed Value
$95,710
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stilwell, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74960 | $26,497 | $49,607 | $75,930 | $125,755 | $195,837 |
Source: Ownwell
Property Tax Bills Across Stilwell, Oklahoma
In Stilwell, located in Cherokee County, OK, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including property size, location, and market conditions. For homeowners in Stilwell, the median home price stands at $75,930, with property tax bills varying significantly. At the 25th percentile, tax bills are around $315, while at the 75th percentile, they rise to $1,024. The top 10% of tax bills can reach as high as $1,879. The median tax bill in the area is $604, which is lower than the national median property tax rate of 0.99%. This variation in tax bills can impact homeowners by influencing their overall housing costs and budgeting. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Stilwell Tax Bill
$604
Average Cherokee County Tax Bill
$703
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Stilwell, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74960 | $181 | $315 | $604 | $1,024 | $1,879 |
Source: Ownwell