S Coffeyville, Oklahoma Property Taxes
The median property tax rate in S Coffeyville, OK is 0.82%, 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 $83,188 in S Coffeyville, the typical annual property tax bill amounts to $688, significantly below the national median of $2,690. Property taxes in S Coffeyville 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 S Coffeyville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of S Coffeyville or another part of Craig County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
S Coffeyville, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$682
Ownwell’s S Coffeyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in S Coffeyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in S Coffeyville 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 S Coffeyville, Oklahoma
Property taxes in S COFFEYVILLE, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in S COFFEYVILLE is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within S COFFEYVILLE set these rates annually, and they can vary significantly across different neighborhoods. Each year, S COFFEYVILLE 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 S COFFEYVILLE's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74072 has both the highest and lowest median property tax rate of 0.82%. Understanding how these cities compare with S COFFEYVILLE provides valuable insights into the varying tax landscape across Craig County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average S Coffeyville Tax Rate
0.82%
Average Craig County Tax Rate
0.82%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across S Coffeyville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74072 | 0.77% | 0.79% | 0.82% | 0.85% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across S Coffeyville, Oklahoma
In S Coffeyville, 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 Craig County Appraisal District 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 S Coffeyville, 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 S Coffeyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 74072, with a median tax bill of $688.
Average S Coffeyville Assessed Value
$83,188
Average Craig County Assessed Value
$75,683
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across S Coffeyville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74072 | $78,305 | $80,136 | $83,188 | $86,239 | $88,070 |
Source: Ownwell
Property Tax Bills Across S Coffeyville, Oklahoma
In S Coffeyville, property tax bills are calculated based on the assessed value of a home, which is determined by the Craig County Assessor's Office. The assessed value is a percentage of the market value of the property. The median home price in S Coffeyville is $83,188, and property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property characteristics, market conditions, and any applicable exemptions. For instance, the 25th percentile tax bill is $635, while the 75th percentile tax bill is $740, and the 90th percentile tax bill reaches $771. These figures illustrate the range of what homeowners might expect to pay, depending on the specifics of their property and any qualifying exemptions. Compared to the national median property tax rate of 0.99%, S Coffeyville's property taxes are relatively modest. This can significantly affect homeowners by making it more affordable to own property in the area, potentially leading to higher homeownership rates and stable community growth.
Average S Coffeyville Tax Bill
$688
Average Craig County Tax Bill
$568
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across S Coffeyville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74072 | $604 | $635 | $688 | $740 | $771 |
Source: Ownwell