Burlington, Oklahoma Property Taxes
The median property tax rate in Burlington, Oklahoma is 0.71%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $78,620 in Burlington, the typical annual property tax bill is approximately $546, significantly less than the national median of $2,690. Property taxes in Burlington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Burlington'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 Burlington 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
Burlington, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$558
Ownwell’s Burlington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burlington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burlington 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 Burlington, Oklahoma
Property taxes in Burlington, Oklahoma, are fundamental in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burlington is 0.71%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Burlington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burlington 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 Burlington's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73722 has the same median property tax rate of 0.71%. Understanding how these areas compare with Burlington provides valuable insights into the varying tax landscape across Alfalfa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burlington Tax Rate
0.71%
Average Alfalfa County Tax Rate
0.87%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burlington, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73722 | 0.53% | 0.65% | 0.71% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Burlington, Oklahoma
In Burlington, 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 Alfalfa 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 Burlington, 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 Burlington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Burlington is $546, found in the zip code 73722. The lowest median tax bill is also $546, in the same zip code.
Average Burlington Assessed Value
$78,620
Average Alfalfa County Assessed Value
$48,960
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burlington, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73722 | $26,177 | $46,692 | $78,620 | $142,159 | $204,840 |
Source: Ownwell
Property Tax Bills Across Burlington, Oklahoma
In Burlington, located in Alfalfa County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The property tax rate is then applied to this assessed value to calculate the annual tax bill. For context, the median home price in Burlington is $78,620. Homeowners in Burlington can expect varying property tax bills. At the 25th percentile, the tax bill is approximately $320, while at the 75th percentile, it rises to around $1,086. For those at the 90th percentile, the tax bill can reach up to $1,521. Comparatively, the national median property tax rate is 0.99%, highlighting that Burlington's rates can be significantly lower or higher depending on the property's assessed value and location within the county. This variability can impact homeowners differently, influencing their overall cost of homeownership and financial planning.
Average Burlington Tax Bill
$546
Average Alfalfa County Tax Bill
$402
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Burlington, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73722 | $203 | $320 | $546 | $1,086 | $1,521 |
Source: Ownwell