Shamrock, Oklahoma Property Taxes
The median property tax rate in Shamrock, OK is 1.01%, slightly above the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Shamrock at $44,928, the typical annual property tax bill is $395, which is significantly lower than the national median of $2,690. Property taxes in Shamrock are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Shamrock'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 Shamrock 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
Shamrock, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$454
Ownwell’s Shamrock Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Shamrock with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Shamrock to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Shamrock, Oklahoma
Property taxes in Shamrock, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shamrock is 0.95%, 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 Shamrock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shamrock 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 Shamrock's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74068 zip code has the highest median property tax rate of 1.01%, while the 74068 zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Shamrock 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 Shamrock Tax Rate
1.01%
Average Creek County Tax Rate
0.88%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shamrock, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74068 | 0.73% | 0.74% | 1.01% | 1.07% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Shamrock, Oklahoma
In Shamrock, 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 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 Shamrock, 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 Shamrock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $395.00 in zip code 74068, while the lowest is also $395.00 in the same zip code.
Average Shamrock Assessed Value
$44,928
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 Shamrock, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74068 | $16,791 | $30,234 | $44,928 | $51,285 | $79,199 |
Source: Ownwell
Property Tax Bills Across Shamrock, Oklahoma
In Shamrock, Creek County, OK, property tax bills are determined based on the assessed value of a home. The assessed value is typically a percentage of the home's market value, which is determined by the county assessor. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Shamrock, the median home price is $44,928. Property tax bills can vary significantly, with the 25th percentile paying around $328 annually, while those in the 75th percentile pay approximately $517. The highest 10% of tax bills can reach up to $835. These property tax bills play a crucial role in funding local services such as schools, public safety, and infrastructure. Comparing this to the national median property tax rate of 0.99%, Shamrock homeowners may find their tax rates relatively manageable. However, the impact on individual homeowners can vary based on their property's assessed value and specific local tax rates.
Average Shamrock Tax Bill
$395
Average Creek County Tax Bill
$1,080
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Shamrock, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74068 | $166 | $328 | $395 | $517 | $835 |
Source: Ownwell