Hulbert, Oklahoma Property Taxes
The median property tax rate in Hulbert, OK 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 $83,176 in Hulbert, the typical annual property tax bill amounts to $498, falling well below the national median of $2,690. Property taxes in Hulbert are calculated based on the tax assessed value, which often is lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Hulbert's property tax system and exploring available exemptions can lead to significant annual savings. Whether you're in the heart of Hulbert 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
Hulbert, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$591
Ownwell’s Hulbert Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hulbert with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hulbert to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. Your property’s assessed value is the value assigned by Cherokee County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hulbert, Oklahoma
Property taxes in Hulbert, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hulbert is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Hulbert set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hulbert 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 Hulbert's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74441 zip code has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these cities compare with Hulbert 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 Hulbert Tax Rate
0.71%
Average Cherokee County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hulbert, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74441 | 0.31% | 0.50% | 0.71% | 0.82% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Hulbert, Oklahoma
In Hulbert, 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. In Hulbert, 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 Hulbert helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $498.00, found in the 74441 zip code.
Average Hulbert Assessed Value
$83,176
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 Hulbert, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74441 | $22,244 | $46,662 | $83,176 | $130,698 | $196,258 |
Source: Ownwell
Property Tax Bills Across Hulbert, Oklahoma
In Hulbert, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. This assessed value is a percentage of the property's market value. For instance, if a home has a median market price of $83,176, the assessed value would be a fraction of that amount. The tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the assessed value, including the property's condition, location, and any improvements or renovations made. In Cherokee County, where Hulbert is located, tax bills can vary significantly. For example, the 25th percentile tax bill is around $245, while the 75th percentile tax bill rises to $897. Homeowners in the 90th percentile might see tax bills as high as $1,542. This variability affects homeowners differently, impacting their annual budgets and financial planning. Compared to the national median property tax rate of 0.99%, Hulbert's tax rates can offer some relief, though individual experiences may vary.
Average Hulbert Tax Bill
$498
Average Cherokee County Tax Bill
$703
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hulbert, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74441 | $77 | $245 | $498 | $897 | $1,542 |
Source: Ownwell