Keota, Oklahoma Property Taxes
The median property tax rate in Keota, OK is 0.64%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Keota being $54,238, the typical annual property tax bill amounts to $328, well below the national median of $2,690. Property taxes in Keota are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Keota'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 Keota 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
Keota, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$347
Ownwell’s Keota Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Keota with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keota 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 Keota, Oklahoma
Property taxes in Keota, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keota is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Keota set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keota 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 Keota's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74941 has both the highest and lowest median property tax rate of 0.64%. Understanding how these areas compare with Keota 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 Keota Tax Rate
0.64%
Average Haskell County Tax Rate
0.72%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keota, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74941 | 0.33% | 0.47% | 0.64% | 0.82% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Keota, Oklahoma
In Keota, 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 Keota, 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 median home price in Keota is $54,238, and the tax bills range widely, with the 25th percentile at $160 and the 90th percentile reaching $1,041. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Keota Assessed Value
$54,238
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 Keota, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74941 | $16,006 | $29,979 | $54,238 | $90,661 | $147,945 |
Source: Ownwell
Property Tax Bills Across Keota, Oklahoma
In Keota, located in Haskell County, OK, property tax bills are calculated based on the assessed value of a property, which is derived from its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Keota, the median home price is $54,238, with tax bills varying significantly. At the 25th percentile, homeowners might see a tax bill as low as $160, while those at the 75th percentile could face a bill of $604. The highest tax bills, at the 90th percentile, reach up to $1,041. The median tax bill in the area stands at $328, which is relatively low compared to the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to local services such as schools, roads, and emergency services, thereby influencing the overall quality of life in the community.
Average Keota Tax Bill
$328
Average Haskell County Tax Bill
$400
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Keota, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74941 | $77 | $160 | $328 | $604 | $1,041 |
Source: Ownwell