Yukon, Oklahoma Property Taxes
The median property tax rate in Yukon, OK is 0.82%, 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 Yukon at $677,264, the typical annual property tax bill reaches $6,067, significantly exceeding the national median of $2,690. Property taxes in Yukon 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 Yukon'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 Yukon 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
Yukon, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$5,554
Ownwell’s Yukon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yukon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yukon 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 Yukon, Oklahoma
Property taxes in Yukon, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yukon is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Yukon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yukon 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 Yukon's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73099 zip code has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Yukon provides valuable insights into the varying tax landscape across Oklahoma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yukon Tax Rate
0.82%
Average Oklahoma County Tax Rate
1.00%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yukon, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73099 | 0.63% | 0.70% | 0.82% | 0.94% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Yukon, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Yukon, Oklahoma. The market value represents 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 Oklahoma 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 Yukon, 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 Yukon 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 in Yukon is 73099, with a median tax bill of $6,067.
Average Yukon Assessed Value
$677,264
Average Oklahoma County Assessed Value
$192,500
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yukon, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73099 | $498,674 | $565,645 | $677,264 | $788,882 | $855,853 |
Source: Ownwell
Property Tax Bills Across Yukon, Oklahoma
In Yukon, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is a percentage of the home's market value. Property tax rates in Yukon are influenced by various factors, including local government budgets and funding requirements for public services like schools and infrastructure. Homeowners in Yukon can expect their tax bills to vary significantly. For instance, the median home price in the area is $677,264, and property tax bills range widely. At the 25th percentile, homeowners might pay around $4,345, while those at the 75th percentile could see bills as high as $7,789. The top 10% of taxpayers might face bills up to $8,822. These property taxes impact homeowners by contributing to the overall cost of homeownership, influencing decisions on buying, selling, or maintaining properties. Compared to the national median property tax rate of 0.99%, Yukon's rates reflect the specific fiscal needs and property values of the area.
Average Yukon Tax Bill
$6,067
Average Oklahoma County Tax Bill
$1,891
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Yukon, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73099 | $3,312 | $4,345 | $6,067 | $7,789 | $8,822 |
Source: Ownwell