Cookson, Oklahoma Property Taxes
The median property tax rate in Cookson, OK is 0.86%, 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 $104,289 in Cookson, the typical annual property tax bill amounts to $734, significantly below the national median of $2,690. Property taxes in Cookson are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cookson'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 Cookson or another part of Cherokee County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cookson, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$897
Ownwell’s Cookson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cookson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cookson 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 Cookson, Oklahoma
Property taxes in Cookson, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cookson is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Cookson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cookson 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 Cookson's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74427 has both the highest and lowest median property tax rate of 0.86%. Understanding how these cities compare with Cookson provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cookson Tax Rate
0.86%
Average Cherokee County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cookson, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74427 | 0.43% | 0.66% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Cookson, Oklahoma
In Cookson, 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 Cherokee 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 Cookson 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 Cookson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Cookson is $104,289, with annual property tax bills ranging from $351 at the 25th percentile to $2,333 at the 90th percentile. The zip code 74427 has the highest and lowest median tax bill at $734.
Average Cookson Assessed Value
$104,289
Average Cherokee County Assessed Value
$95,710
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cookson, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74427 | $30,443 | $55,780 | $104,289 | $176,781 | $282,485 |
Source: Ownwell
Property Tax Bills Across Cookson, Oklahoma
Property tax bills in Cookson, Cherokee County, OK, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For example, with a median home price of $104,289, homeowners can expect a range of tax bills. At the 25th percentile, the tax bill is around $351, while at the 75th percentile, it reaches approximately $1,403. The highest tax bills, at the 90th percentile, can go up to $2,333. Several factors influence these amounts, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Cookson's rates can be seen as relatively moderate, providing some financial relief to homeowners. However, understanding these factors and how they contribute to the overall tax bill is crucial for budgeting and financial planning.
Average Cookson Tax Bill
$734
Average Cherokee County Tax Bill
$703
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Cookson, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74427 | $177 | $351 | $734 | $1,403 | $2,333 |
Source: Ownwell