Beggs, Oklahoma Property Taxes
The median property tax rate in Beggs, OK is 0.93%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Beggs at $203,935, the typical annual property tax bill reaches $2,134, which is lower than the national median of $2,690. Property taxes in Beggs 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 Beggs'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 Beggs or another part of Creek County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beggs, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,897
Ownwell’s Beggs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beggs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beggs 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 Beggs, Oklahoma
Property taxes in Beggs, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beggs is 0.75%, which is lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Beggs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beggs 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 Beggs's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74421 zip code has the highest median property tax rate of 0.93%, while the 74421 zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Beggs provides valuable insights into the varying tax landscape across Okmulgee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beggs Tax Rate
0.93%
Average Creek County Tax Rate
0.88%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beggs, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74421 | 0.75% | 0.79% | 0.93% | 1.11% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Beggs, Oklahoma
In Beggs, 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 Creek 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 Beggs, 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 Beggs 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 Beggs share the same value of $2,134, both in the 74421 zip code.
Average Beggs Assessed Value
$203,935
Average Creek County Assessed Value
$130,263
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beggs, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74421 | $167,614 | $185,218 | $203,935 | $330,533 | $489,107 |
Source: Ownwell
Property Tax Bills Across Beggs, Oklahoma
In Beggs, Creek County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $203,935, homeowners can expect tax bills to vary significantly. At the 25th percentile, the tax bill is around $1,515, while at the 75th percentile, it rises to $3,380. Those in the 90th percentile may see bills as high as $4,440. Several factors influence these tax bills, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the tax rates in Beggs can be considered moderate, but they still represent a significant expense for homeowners. Understanding these factors helps homeowners plan their finances better and anticipate future tax liabilities.
Average Beggs Tax Bill
$2,134
Average Creek County Tax Bill
$1,080
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Beggs, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74421 | $1,390 | $1,515 | $2,134 | $3,380 | $4,440 |
Source: Ownwell