Perkins, Oklahoma Property Taxes
The median property tax rate in Perkins, OK is 0.66%, 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 Perkins, the typical annual property tax bill reaches $1,101, significantly below the national median of $2,690. Property taxes in Perkins 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 Perkins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Perkins 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
Perkins, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$987
Ownwell’s Perkins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perkins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perkins 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 Perkins, Oklahoma
Property taxes in Perkins, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perkins is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Perkins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perkins 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 Perkins's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74059 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Perkins provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Perkins Tax Rate
0.66%
Average Logan County Tax Rate
0.98%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Perkins, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74059 | 0.63% | 0.64% | 0.66% | 0.70% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Perkins, Oklahoma
In Perkins, 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 Logan 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 Perkins, 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 Perkins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 74059, with a median tax bill of $1,101.
Average Perkins Assessed Value
$149,577
Average Logan County Assessed Value
$165,842
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Perkins, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74059 | $137,159 | $141,816 | $149,577 | $183,765 | $204,278 |
Source: Ownwell
Property Tax Bills Across Perkins, Oklahoma
In Perkins, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Perkins, the median home price is $149,577. Property tax bills can vary significantly, with the 25th percentile paying around $996, while those in the 75th percentile pay approximately $1,222. The top 10% of taxpayers face bills as high as $1,295. Factors that influence the tax bill include the home's assessed value, the local tax rate, and any applicable exemptions or deductions. These property taxes fund essential services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Perkins homeowners generally face a more favorable tax environment. However, the variability in tax bills can impact homeowners differently, depending on their property's assessed value and specific circumstances.
Average Perkins Tax Bill
$1,101
Average Logan County Tax Bill
$1,451
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Perkins, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74059 | $933 | $996 | $1,101 | $1,222 | $1,295 |
Source: Ownwell