Salina, Oklahoma Property Taxes
The median property tax rate in Salina, OK is 0.63%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Salina, the typical annual property tax bill reaches $818, well below the national median of $2,690. Property taxes in Salina 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 Salina'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 Salina 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
Salina, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$821
Ownwell’s SALINA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SALINA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SALINA 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 Salina, Oklahoma
Property taxes in Salina, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salina is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Salina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salina 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 Salina's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74365 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Salina provides valuable insights into the varying tax landscape across Mayes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Salina Tax Rate
0.63%
Average Mayes County Tax Rate
0.66%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salina, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74365 | 0.35% | 0.48% | 0.63% | 0.79% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Salina, Oklahoma
In Salina, 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 Mayes 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 Salina, 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. The median home price in Salina is $130,260, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $455, while the 75th percentile reaches $1,339, and the 90th percentile can go up to $2,114. Zip code 74365 has the highest and lowest median tax bill at $818. By understanding 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 Salina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Salina Assessed Value
$130,260
Average Mayes County Assessed Value
$160,424
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Salina, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74365 | $49,088 | $78,273 | $130,260 | $207,779 | $296,619 |
Source: Ownwell
Property Tax Bills Across Salina, Oklahoma
In Salina, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the market value of the property. For homeowners in Mayes County, where Salina is located, the median home price is $130,260. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. The tax bill can vary significantly; for instance, the 25th percentile tax bill in Salina is $455, while the 75th percentile tax bill is $1,339, and the 90th percentile reaches $2,114. These variations highlight how different factors can impact the amount homeowners owe. Compared to the national median property tax rate of 0.99%, homeowners in Salina may find their tax bills either higher or lower, depending on their specific circumstances. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Salina Tax Bill
$818
Average Mayes County Tax Bill
$998
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Salina, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74365 | $239 | $455 | $818 | $1,339 | $2,114 |
Source: Ownwell