Oologah, Oklahoma Property Taxes
The median property tax rate in Oologah, OK is 0.22%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Oologah, the typical annual property tax bill is $616, which is well below the national median of $2,690. Property taxes in Oologah 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 Oologah'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 Oologah 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
Oologah, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.22%
Estimate Property Tax Bill
$616
Ownwell’s Oologah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oologah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oologah 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 Oologah, Oklahoma
Property taxes in Oologah, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oologah is 0.87%, significantly lower than both the Oklahoma state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Oologah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oologah 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 Oologah's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the highest median property tax rate in Oklahoma is found in Tulsa County at 1.05%, while the lowest median tax rate is in Beaver County at 0.47%. Understanding how these cities compare with Oologah 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 Oologah Tax Rate
0.22%
Average Tulsa County Tax Rate
1.31%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oologah, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74053 | 0.19% | 0.22% | 0.22% | 0.22% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Oologah, Oklahoma
In Oologah, 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's Office 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 Oologah, 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 Oologah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Oologah is $616.00, with the highest median tax bill and lowest median tax bill both found in the 74053 zip code.
Average Oologah Assessed Value
$280,000
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 Oologah, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74053 | $144,736 | $166,076 | $280,000 | $440,000 | $458,000 |
Source: Ownwell
Property Tax Bills Across Oologah, Oklahoma
In Oologah, located in Tulsa County, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $280,000, homeowners in Oologah can expect varying tax bills depending on their property’s assessed value and specific circumstances. Factors such as property size, location, and improvements can influence the assessed value. For example, homeowners at the 25th percentile pay around $366, while those at the 75th percentile see bills closer to $968. The highest median tax bill recorded in the area is $616, which aligns with the lowest, indicating a relatively uniform tax rate. Comparatively, the national median property tax rate is 0.99%, suggesting that homeowners in Oologah may experience lower property tax bills relative to other parts of the country. This can significantly affect affordability and long-term financial planning for residents.
Average Oologah Tax Bill
$616
Average Tulsa County Tax Bill
$1,876
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Oologah, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74053 | $281 | $366 | $616 | $968 | $7,446 |
Source: Ownwell