Carney, Oklahoma Property Taxes
The median property tax rate in Carney, OK is 0.90%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $28,816 in Carney, the typical annual property tax bill amounts to $260, which is significantly below the national median of $2,690. Property taxes in Carney are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Carney'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 Carney 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
Carney, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$259
Ownwell’s Carney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carney 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 Carney, Oklahoma
Property taxes in Carney, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carney is 0.90%, slightly lower than the U.S. national median of 0.99%. Local government entities within Carney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carney 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 Carney's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74832 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Carney provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carney Tax Rate
0.90%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carney, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74832 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Carney, Oklahoma
In Carney, 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 McIntosh 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 Carney, 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 Carney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Carney are both $260, with the zip code 74832.
Average Carney Assessed Value
$28,816
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 Carney, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74832 | $28,816 | $28,816 | $28,816 | $28,816 | $28,816 |
Source: Ownwell
Property Tax Bills Across Carney, Oklahoma
In Carney, located in McIntosh County, OK, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, which is determined by local tax assessors. The tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Carney, the median home price is $28,816, and the typical tax bill is around $260, which is significantly lower than the national median property tax rate of 0.99%. Factors that affect the tax bill include the property's assessed value, any applicable exemptions, and the local tax rate. Homeowners benefit from lower property taxes, which can make homeownership more affordable compared to other regions. However, it's essential to stay informed about any changes in property values or tax rates, as these can impact the overall tax burden. Understanding these factors helps homeowners in Carney manage their finances more effectively and plan for any future tax obligations.
Average Carney Tax Bill
$260
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Carney, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74832 | $260 | $260 | $260 | $260 | $260 |
Source: Ownwell