Chattanooga, Oklahoma Property Taxes
The median property tax rate in Chattanooga, OK is 0.96%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Chattanooga at $66,460, the typical annual property tax bill is $603, significantly below the national median of $2,690. Property taxes in Chattanooga are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chattanooga'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 Chattanooga 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
Chattanooga, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$638
Ownwell’s Chattanooga Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Chattanooga with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Chattanooga to project your property tax bill. This valuable tool helps you gauge potential tax liabilities accurately. For those interested in more granular data, scroll down to explore trends at the neighborhood level. Your property’s assessed value is the figure assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Chattanooga, Oklahoma
Property taxes in Chattanooga, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chattanooga is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Chattanooga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chattanooga 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 Chattanooga's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73528 has both the highest and lowest median property tax rate of 0.96%. Understanding how these cities compare with Chattanooga provides valuable insights into the varying tax landscape across Comanche County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chattanooga Tax Rate
0.96%
Average Comanche County Tax Rate
1.15%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chattanooga, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73528 | 0.68% | 0.83% | 0.96% | 1.00% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Chattanooga, Oklahoma
In Chattanooga, 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 Comanche County Appraisal District 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 Chattanooga, 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 Chattanooga helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 73528, with a median tax bill of $603, while the lowest median tax bill is also in zip code 73528, at $603.
Average Chattanooga Assessed Value
$66,460
Average Comanche County Assessed Value
$99,838
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chattanooga, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73528 | $13,976 | $34,280 | $66,460 | $111,232 | $162,459 |
Source: Ownwell
Property Tax Bills Across Chattanooga, Oklahoma
In Chattanooga, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the market value of the property. Various factors, such as property size, location, and improvements, are considered in this assessment. For homeowners in Chattanooga, the median home price is $66,460. Property tax bills can vary significantly, with the 25th percentile at $294 and the 75th percentile at $1,026. For those at the higher end, the 90th percentile tax bill reaches $1,535. This wide range indicates how property characteristics and assessed values can impact the final tax bill. Comparing this to the national median property tax rate of 0.99%, Chattanooga's property taxes reflect a local approach to funding public services. Homeowners need to be aware of these factors as they directly influence their annual financial obligations and the overall cost of homeownership in the area.
Average Chattanooga Tax Bill
$603
Average Comanche County Tax Bill
$997
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Chattanooga, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73528 | $155 | $294 | $603 | $1,026 | $1,535 |
Source: Ownwell