Shady Point, Oklahoma Property Taxes
The median property tax rate in Shady Point, OK is 0.93%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Shady Point at $70,826, the typical annual property tax bill is approximately $609, significantly below the national median of $2,690. Property taxes in Shady Point 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 Shady Point'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 Shady Point or another part of Le Flore County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shady Point, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$659
Ownwell’s Shady Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shady Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shady Point 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 Shady Point, Oklahoma
Property taxes in Shady Point, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shady Point is 0.93%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Shady Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shady Point 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 Shady Point's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74956 has both the highest and lowest median property tax rate of 0.93%. Understanding how these areas compare with Shady Point provides valuable insights into the varying tax landscape across Le Flore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shady Point Tax Rate
0.93%
Average Le Flore County Tax Rate
0.80%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shady Point, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74956 | 0.58% | 0.79% | 0.93% | 1.00% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Shady Point, Oklahoma
In Shady Point, 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 Le Flore 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 Shady Point, 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 Shady Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Shady Point is $609 in zip code 74956, while the lowest is also $609 in the same zip code, reflecting a consistent tax environment.
Average Shady Point Assessed Value
$70,826
Average Le Flore County Assessed Value
$72,264
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shady Point, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74956 | $25,145 | $41,032 | $70,826 | $117,928 | $177,130 |
Source: Ownwell
Property Tax Bills Across Shady Point, Oklahoma
In Shady Point, located in Le Flore County, OK, 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 Shady Point stands at $70,826. Local tax rates are applied to this assessed value to determine the annual tax bill. Various factors, such as property location, improvements, and exemptions, influence the final tax amount. For homeowners in Shady Point, the property tax bill can vary significantly. The 25th percentile tax bill is around $313, while the 75th percentile tax bill reaches $1,049. For those at the higher end, the 90th percentile tax bill can be as high as $1,608. The highest and lowest median tax bills in the area are both $609, found in the zip code 74956. Compared to the national median property tax rate of 0.99%, Shady Point offers a relatively affordable tax environment, impacting homeowners by potentially lowering their annual housing costs.
Average Shady Point Tax Bill
$609
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Shady Point, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74956 | $180 | $313 | $609 | $1,049 | $1,608 |
Source: Ownwell