Taloga, Oklahoma Property Taxes
The median property tax rate in Taloga, OK is 0.54%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Taloga at $83,518, the typical annual property tax bill is $369, well below the national median of $2,690. Property taxes in Taloga are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Taloga'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 Taloga or another part of Dewey County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Taloga, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$451
Ownwell’s Taloga Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Taloga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Taloga 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 Taloga, Oklahoma
Property taxes in Taloga, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Taloga is 0.54%, lower than the U.S. national median of 0.99%. Local government entities within Taloga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Taloga 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 Taloga's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73667 zip code has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Taloga provides valuable insights into the varying tax landscape across Dewey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Taloga Tax Rate
0.54%
Average Dewey County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Taloga, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73667 | 0.28% | 0.38% | 0.54% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Taloga, Oklahoma
In Taloga, 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 Dewey 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 Taloga, 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. The highest median tax bill in Taloga is $369 in the 73667 zip code, while the lowest median tax bill is also $369 in the same zip code. Being aware of these valuation processes in Taloga helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Taloga Assessed Value
$83,518
Average Dewey County Assessed Value
$78,646
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Taloga, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73667 | $25,241 | $40,746 | $83,518 | $124,500 | $184,707 |
Source: Ownwell
Property Tax Bills Across Taloga, Oklahoma
In Taloga, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For homeowners in Taloga, the median home price is $83,518. Once the assessed value is established, local tax rates are applied to determine the tax bill. Factors considered in this calculation include the property's location, size, and any improvements made. The tax bill can vary significantly; for instance, the 25th percentile tax bill is $203, while the 75th percentile tax bill is $679, and the 90th percentile tax bill is $1008. Comparatively, the national median property tax rate is 0.99%, which provides a context for understanding Taloga's property taxes. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting homeowners by contributing to the overall quality of life in the community.
Average Taloga Tax Bill
$369
Average Dewey County Tax Bill
$505
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Taloga, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73667 | $108 | $203 | $369 | $679 | $1,008 |
Source: Ownwell