Coyle, Oklahoma Property Taxes
The median property tax rate in Coyle, OK is 0.77%, 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 Coyle at $156,740, the typical annual property tax bill is approximately $1,142, significantly below the national median of $2,690. Property taxes in Coyle are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Coyle's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Coyle or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coyle, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,207
Ownwell’s Coyle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coyle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coyle 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 Coyle, Oklahoma
Property taxes in Coyle, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Coyle is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Coyle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coyle 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 Coyle's effective property tax rate to other regions in Payne County and the national median. For comparison, the 73027 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Coyle provides valuable insights into the varying tax landscape across Payne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coyle Tax Rate
0.77%
Average Payne County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coyle, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73027 | 0.47% | 0.64% | 0.77% | 0.86% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Coyle, Oklahoma
In Coyle, 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 Payne 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 Coyle, 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 Coyle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Coyle is $156,740, with the highest median tax bill recorded at $1,142 in zip code 73027.
Average Coyle Assessed Value
$156,740
Average Payne County Assessed Value
$185,340
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coyle, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73027 | $35,460 | $73,690 | $156,740 | $249,660 | $354,156 |
Source: Ownwell
Property Tax Bills Across Coyle, Oklahoma
In Coyle, Payne County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Local tax authorities determine this assessed value, and then apply the relevant tax rate to calculate the annual property tax bill. For homeowners in Coyle, the median home price stands at $156,740. The tax bill can vary significantly, with the 25th percentile at $463 and the 75th percentile reaching $1,864. For those at the higher end, the 90th percentile tax bill can be as much as $2,770. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. Homeowners in Coyle need to budget for these taxes as part of their annual expenses. Compared to the national median property tax rate of 0.99%, Coyle's tax bills reflect the local economic conditions and public service requirements, impacting homeowners differently based on their property's assessed value.
Average Coyle Tax Bill
$1,142
Average Payne County Tax Bill
$1,635
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Coyle, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73027 | $242 | $463 | $1,142 | $1,864 | $2,770 |
Source: Ownwell