Bokoshe, Oklahoma Property Taxes
The median property tax rate in Bokoshe, Oklahoma is 0.84%, 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 $39,409, the typical annual property tax bill in Bokoshe is around $332, significantly below the national median of $2,690. Property taxes in Bokoshe are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bokoshe'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 Bokoshe 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
Bokoshe, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$331
Ownwell’s Bokoshe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bokoshe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bokoshe 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 Bokoshe, Oklahoma
Property taxes in Bokoshe, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bokoshe is 0.84%, lower than the U.S. national median of 0.99%. Local government entities within Bokoshe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bokoshe 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 Bokoshe's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74930 zip code has the highest median property tax rate of 0.84%, while the same zip code also has the lowest median tax rate of 0.84%. Understanding how these cities compare with Bokoshe provides valuable insights into the varying tax landscape across Haskell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bokoshe Tax Rate
0.84%
Average Haskell County Tax Rate
0.72%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bokoshe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74930 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Bokoshe, Oklahoma
In Bokoshe, 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 Haskell 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 Bokoshe, 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 Bokoshe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74930 in Bokoshe has both the highest and lowest median tax bills, each at $332.
Average Bokoshe Assessed Value
$39,409
Average Haskell County Assessed Value
$61,017
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bokoshe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74930 | $39,409 | $39,409 | $39,409 | $39,409 | $39,409 |
Source: Ownwell
Property Tax Bills Across Bokoshe, Oklahoma
In Bokoshe, located in Haskell County, OK, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the property's market value, which in this case is influenced by the median home price of $39,409. Property tax rates are applied to this assessed value to determine the final tax bill. For Bokoshe, the median property tax bill stands at $332, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, its assessed value, and the local tax rate. Homeowners in Bokoshe benefit from relatively low property tax bills, which can make homeownership more affordable compared to other regions. This lower tax burden can be particularly advantageous for homeowners looking to maximize their investment in their property. The consistent tax bill of $332 across various percentiles indicates a stable and predictable tax environment for residents.
Average Bokoshe Tax Bill
$332
Average Haskell County Tax Bill
$400
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Bokoshe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74930 | $332 | $332 | $332 | $332 | $332 |
Source: Ownwell