Butler, Oklahoma Property Taxes
The median property tax rate in Butler, OK is 0.91%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Butler, the typical annual property tax bill amounts to $526, significantly below the national median of $2,690. Property taxes in Butler are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Butler'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 Butler 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
Butler, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$563
Ownwell’s Butler Property Tax Bill Calculator assists homeowners, real estate investors, or potential buyers in estimating their annual property taxes in Butler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Butler 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 Butler, Oklahoma
Property taxes in Butler, Oklahoma, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Butler is 0.91%, which is slightly below the U.S. national median of 0.99%. Local government entities within Butler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Butler 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 Butler's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73625 has both the highest and lowest median property tax rate of 0.91%, identical to Butler’s rate. Understanding how these cities compare with Butler provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Butler Tax Rate
0.91%
Average Custer County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Butler, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73625 | 0.54% | 0.74% | 0.91% | 1.02% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Butler, Oklahoma
In Butler, 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 Custer County Assessor's Office 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 Butler, 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. The median home price in Butler is $61,877, with tax bills ranging from $212 at the 25th percentile to $1,495 at the 90th percentile. Being aware of these valuation processes in Butler helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Butler Assessed Value
$61,877
Average Custer County Assessed Value
$105,000
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Butler, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73625 | $17,773 | $30,085 | $61,877 | $99,590 | $145,787 |
Source: Ownwell
Property Tax Bills Across Butler, Oklahoma
In Butler, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Butler is $61,877. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, the national median property tax rate is 0.99%, but local rates can vary. Several factors influence the final tax bill, including property location, home size, and any applicable exemptions. In Butler, the 25th percentile tax bill is $212, while the 75th percentile tax bill reaches $929. The 90th percentile tax bill can go up to $1,495, indicating a wide range of tax obligations based on property characteristics. For homeowners, understanding these factors is crucial for financial planning. High property taxes can impact monthly mortgage payments and overall affordability, while lower taxes can offer some financial relief. Comparing these local figures to the national median helps homeowners gauge their tax burden relative to other regions.
Average Butler Tax Bill
$526
Average Custer County Tax Bill
$977
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Butler, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73625 | $117 | $212 | $526 | $929 | $1,495 |
Source: Ownwell