Catoosa, Oklahoma Property Taxes
The median property tax rate in Catoosa, OK is 0.85%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.87%. With a median home value in Catoosa of $146,100, the typical annual property tax bill reaches $1,242, falling below the national median of $2,690. Property taxes in Catoosa are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Catoosa'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 Catoosa 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
Catoosa, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,025
Ownwell’s Catoosa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Catoosa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Catoosa 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 Catoosa, Oklahoma
Property taxes in Catoosa, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Catoosa is 1.24%, significantly higher than the U.S. national median of 0.99%. Local government entities within Catoosa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Catoosa 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 Catoosa's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74015 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Catoosa provides valuable insights into the varying tax landscape across Rogers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Catoosa Tax Rate
1.24%
Average Tulsa County Tax Rate
1.31%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Catoosa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74015 | 0.90% | 1.06% | 1.24% | 1.28% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Catoosa, Oklahoma
In Catoosa, 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 Tulsa 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 Catoosa, 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 Catoosa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74015 in Catoosa has the highest median tax bill at $936.00, while the lowest median tax bill also stands at $936.00, reflecting a uniformity in tax assessments within the area.
Average Catoosa Assessed Value
$82,646
Average Tulsa County Assessed Value
$152,469
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Catoosa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74015 | $68,511 | $71,843 | $82,646 | $94,860 | $122,040 |
Source: Ownwell
Property Tax Bills Across Catoosa, Oklahoma
In Catoosa, located in Tulsa County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this area can expect their tax bills to vary significantly depending on the assessed value of their property. The median home price in Catoosa is $82,646, and the tax bill typically ranges from $823 at the 25th percentile to $1,686 at the 90th percentile. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For instance, the highest median tax bill in the area is $936, a figure that can be found in the 74015 zip code. These taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting homeowners by determining the affordability and desirability of living in the area.
Average Catoosa Tax Bill
$936
Average Tulsa County Tax Bill
$1,876
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Catoosa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74015 | $652 | $823 | $936 | $1,128 | $1,686 |
Source: Ownwell