Okeene, Oklahoma Property Taxes
The median property tax rate in Okeene, OK is 0.68%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Okeene at $133,692, the typical annual property tax bill amounts to $806, significantly less than the national median of $2,690. Property taxes in Okeene are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Okeene'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 Okeene or another part of Kingfisher County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Okeene, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$909
Ownwell’s Okeene Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Okeene with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Okeene 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 Okeene, Oklahoma
Property taxes in Okeene, OK, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Okeene stands at 0.68%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Okeene set these rates annually, and they can vary significantly across different neighborhoods. Each year, Okeene 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 Okeene's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73763 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Okeene provides valuable insights into the varying tax landscape across Kingfisher County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Okeene Tax Rate
0.68%
Average Kingfisher County Tax Rate
0.84%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Okeene, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73763 | 0.48% | 0.49% | 0.68% | 0.80% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Okeene, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Okeene, Oklahoma. 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 Kingfisher 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 Okeene helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Okeene, the highest and lowest median tax bills are both $806, found in the 73763 zip code.
Average Okeene Assessed Value
$133,692
Average Kingfisher County Assessed Value
$150,533
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Okeene, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73763 | $105,896 | $116,146 | $133,692 | $161,702 | $191,258 |
Source: Ownwell
Property Tax Bills Across Okeene, Oklahoma
In Okeene, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county's property assessor and generally reflects a percentage of your home's market value. For homeowners in Okeene, located in Kingfisher County, the property tax rate is influenced by various factors, including the median home price, which stands at $133,692. Homeowners can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $742, while those in the 75th percentile may pay approximately $1,008. At the higher end, the 90th percentile tax bill reaches about $1,433. These figures indicate that while some homeowners may find their tax bills manageable, others could face a more substantial financial burden. Comparatively, the median property tax rate in Okeene is lower than the national median rate of 0.99%, potentially offering some relief to local homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Okeene Tax Bill
$806
Average Kingfisher County Tax Bill
$1,129
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Okeene, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73763 | $652 | $742 | $806 | $1,008 | $1,433 |
Source: Ownwell