Carnegie, Oklahoma Property Taxes
The median property tax rate in Carnegie, OK is 0.63%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Carnegie at $39,880, the typical annual property tax bill amounts to $226, significantly below the national median of $2,690. Property taxes in Carnegie 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 Carnegie'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 Carnegie 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
Carnegie, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$251
Ownwell’s Carnegie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carnegie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carnegie 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 Carnegie, Oklahoma
Property taxes in Carnegie, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carnegie is 0.63%, significantly lower than the U.S. national median of 0.99%. Local government entities within Carnegie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carnegie 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 Carnegie's effective property tax rate to other counties in Oklahoma and the national median. Understanding how these cities compare with Carnegie provides valuable insights into the varying tax landscape across Caddo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carnegie Tax Rate
0.63%
Average Caddo County Tax Rate
0.63%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carnegie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73015 | 0.25% | 0.46% | 0.63% | 0.85% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Carnegie, Oklahoma
In Carnegie, 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 Caddo 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. Assessment notices in Carnegie 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 Carnegie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Carnegie is $39,880, with the highest median tax bill being $226 in zip code 73015.
Average Carnegie Assessed Value
$39,880
Average Caddo County Assessed Value
$58,902
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carnegie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73015 | $17,965 | $24,360 | $39,880 | $77,675 | $123,294 |
Source: Ownwell
Property Tax Bills Across Carnegie, Oklahoma
In Carnegie, located in Caddo County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Carnegie is $39,880. Property tax rates are applied to this assessed value to determine the final tax bill. For homeowners, the tax bill can vary significantly depending on the assessed value of their property and the local tax rate. Factors such as property location, improvements, and market conditions influence the assessed value. In Carnegie, the tax bill ranges widely, with the 25th percentile at $121 and the 75th percentile at $527. The 90th percentile reaches up to $947. The highest and lowest median tax bills in Carnegie both stand at $226, which is considerably lower than the national median property tax rate of 0.99%. This relatively lower tax burden can be advantageous for homeowners, making Carnegie an attractive place for affordable living.
Average Carnegie Tax Bill
$226
Average Caddo County Tax Bill
$341
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Carnegie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73015 | $53 | $121 | $226 | $527 | $947 |
Source: Ownwell