Jenks, Oklahoma Property Taxes
The median property tax rate in Jenks, OK is 1.07%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Jenks at $58,000, the typical annual property tax bill reaches $702, which is notably lower than the national median of $2,690. Property taxes in Jenks are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Jenks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Jenks 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
Jenks, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$621
Ownwell’s Jenks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jenks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jenks 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 Jenks, Oklahoma
Property taxes in Jenks, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jenks is 0.87%, which is lower than both the Oklahoma state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Jenks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jenks 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 Jenks' effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74037 zip code has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Jenks provides valuable insights into the varying tax landscape across Creek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jenks Tax Rate
1.07%
Average Creek County Tax Rate
0.88%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jenks, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74037 | 0.77% | 1.04% | 1.07% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Jenks, Oklahoma
In Jenks, 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 Jenks, 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 Jenks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Zip code 74037 has the highest and lowest median tax bill at $702.
Average Jenks Assessed Value
$58,000
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 Jenks, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74037 | $43,686 | $51,077 | $58,000 | $100,906 | $119,075 |
Source: Ownwell
Property Tax Bills Across Jenks, Oklahoma
In Jenks, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners, this means that the higher the market value of their property, the higher their tax bill will be. The median home price in Jenks is $58,000, and the property tax rate is influenced by various factors including local government budgets and public service needs. Homeowners in Jenks can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is around $546, while at the 75th percentile, it rises to $1,222. For those at the 90th percentile, the tax bill can reach $1,307. The highest and lowest median tax bills in the area are both $702, indicating a relatively consistent range. Compared to the national median property tax rate of 0.99%, Jenks' tax rates can be seen as moderate. These property taxes help fund essential services like schools, emergency services, and infrastructure, directly impacting the quality of life in the community.
Average Jenks Tax Bill
$702
Average Creek County Tax Bill
$1,080
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Jenks, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74037 | $356 | $546 | $702 | $1,222 | $1,307 |
Source: Ownwell