Atoka, Oklahoma Property Taxes
The median property tax rate in Atoka, Oklahoma is 0.55%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Atoka, the typical annual property tax bill is $79, well below the national median of $2,690. Property taxes in Atoka 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 Atoka'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 Atoka 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
Atoka, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$78
Ownwell’s Atoka Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Atoka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atoka to provide an estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities. If you're curious about trends on a neighborhood level, scroll down for more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any exemptions that may apply.
Property Tax Rates Across Atoka, Oklahoma
Property taxes in Atoka, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atoka is 0.55%, which is below the U.S. national median of 0.99%. Local government entities within Atoka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atoka 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 Atoka's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74525 has both the highest and lowest median property tax rate of 0.55%. Understanding how these areas compare with Atoka provides valuable insights into the varying tax landscape across McIntosh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atoka Tax Rate
0.55%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atoka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74525 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Atoka, Oklahoma
In Atoka, 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 Atoka 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 Atoka, 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 Atoka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Atoka Assessed Value
$14,268
Average Mcintosh County Assessed Value
$81,769
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atoka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74525 | $14,268 | $14,268 | $14,268 | $14,268 | $14,268 |
Source: Ownwell
Property Tax Bills Across Atoka, Oklahoma
In Atoka, located in McIntosh County, OK, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is determined by county assessors. For instance, the median home price in Atoka is $14,268. Using this value, the tax bill is then calculated by applying the local tax rate. Factors such as property improvements, market conditions, and comparable property values in the area are considered when determining the assessed value. Homeowners in Atoka typically see a property tax bill around $79, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable but may also reflect lower public service funding compared to other regions. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Atoka Tax Bill
$79
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Atoka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74525 | $79 | $79 | $79 | $79 | $79 |
Source: Ownwell