South Coffeyville, Oklahoma Property Taxes
The median property tax rate in South Coffeyville, OK is 0.73%, 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 South Coffeyville, the typical annual property tax bill reaches $870, significantly less than the national median of $2,690. Property taxes in South Coffeyville 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 South Coffeyville’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 South Coffeyville 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
South Coffeyville, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$900
Ownwell’s South Coffeyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Coffeyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Coffeyville 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 South Coffeyville, Oklahoma
Property taxes in South Coffeyville, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Coffeyville is 0.73%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within South Coffeyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Coffeyville 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 South Coffeyville's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74072 has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with South Coffeyville provides valuable insights into the varying tax landscape across Nowata County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Coffeyville Tax Rate
0.73%
Average Nowata County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Coffeyville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74072 | 0.50% | 0.59% | 0.73% | 0.87% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across South Coffeyville, Oklahoma
In South Coffeyville, 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 Nowata 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 South Coffeyville, 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 South Coffeyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $123,337, with tax bills ranging from $732 at the 25th percentile to $1,089 at the 90th percentile. The zip code 74072 has both the highest and lowest median tax bill at $870.
Property Tax Assessment Values Across South Coffeyville, Oklahoma
Source: Ownwell
$47,188
$97,325
$147,462
Average South Coffeyville Assessed Value
$123,337
Average Nowata County Assessed Value
$71,248
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Coffeyville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74072 | $114,903 | $118,066 | $123,337 | $128,608 | $131,771 |
Source: Ownwell
Property Tax Bills Across South Coffeyville, Oklahoma
In South Coffeyville, property tax bills are calculated based on the assessed value of a home, which is determined by the Nowata County Assessor. This assessed value is typically a percentage of the property's market value. The local tax rate is then applied to this assessed value to compute the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in South Coffeyville, the median home price is $123,337. Property tax bills vary, with the 25th percentile at $732 and the 75th percentile at $1,007. The highest median tax bill in the area is $870, found in the 74072 zip code. These property taxes are essential for funding local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, South Coffeyville's property tax rates offer a relatively affordable option for homeowners, ensuring that they contribute to their community while maintaining manageable tax obligations.
Average South Coffeyville Tax Bill
$870
Average Nowata County Tax Bill
$541
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across South Coffeyville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74072 | $650 | $732 | $870 | $1,007 | $1,089 |
Source: Ownwell