Baker, Oklahoma Property Taxes
The median property tax rate in Baker, OK is 0.51%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $55,710 in Baker, the typical annual property tax bill amounts to $285, which is far below the national median of $2,690. Property taxes in Baker are calculated based on the tax assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Baker's property tax system and exploring available exemptions can lead to considerable annual savings. Whether you're in the heart of Baker or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baker, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$284
Ownwell’s Baker Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Baker with just two key data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baker to provide an accurate estimate of your property tax bill. This valuable tool helps you comprehend potential tax liabilities, ensuring you are well-prepared for any financial obligations. For those interested in more granular data, explore neighborhood-level trends by scrolling down for localized information. Your property’s assessed value, determined by the county, is crucial for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Baker, Oklahoma
Property taxes in Baker, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baker is 0.51%, significantly lower than the U.S. national median of 0.99%. Local government entities within Baker set these rates annually, and they can vary across different neighborhoods. Each year, Baker 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 Baker's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73950 zip code has both the highest and lowest median property tax rate of 0.51%. Understanding how these cities compare with Baker provides valuable insights into the varying tax landscape across Texas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baker Tax Rate
0.51%
Average Texas County Tax Rate
0.69%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73950 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Baker, Oklahoma
In Baker, 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 county appraisal district 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 Baker, 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 Baker helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Baker, the zip code 73950 has both the highest and lowest median tax bills, each amounting to $285. This is significantly lower than the national median property tax rate of 0.99%, making it beneficial for homeowners to stay informed and proactive about their property tax assessments.
Average Baker Assessed Value
$55,710
Average Texas County Assessed Value
$112,882
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73950 | $55,710 | $55,710 | $55,710 | $55,710 | $55,710 |
Source: Ownwell
Property Tax Bills Across Baker, Oklahoma
In Baker, located in Texas County, OK, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value of your property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine your annual tax bill. For example, with a median home price of $55,710, homeowners in Baker typically see a tax bill around $285, which is consistent across various percentiles, including the 25th, 75th, and 90th. Factors influencing your tax bill include the market value of your home and any applicable exemptions that can reduce your taxable value. Compared to the national median property tax rate of 0.99%, Baker's property tax rate results in relatively lower tax bills, making it more affordable for homeowners. This consistency in tax bills across different percentiles provides predictability and stability for residents, ensuring that property taxes remain manageable and straightforward.
Average Baker Tax Bill
$285
Average Texas County Tax Bill
$698
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Baker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73950 | $285 | $285 | $285 | $285 | $285 |
Source: Ownwell