Carnegie, Oklahoma Property Taxes
The median property tax rate in Carnegie, OK is 1.05%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $72,316 in Carnegie, the typical annual property tax bill amounts to $682, which is below the national median of $2,690. Property taxes in Carnegie 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 Carnegie'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 Carnegie or another part of Kiowa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carnegie, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$759
Ownwell’s Carnegie Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Carnegie with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Carnegie to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Carnegie, Oklahoma
Property taxes in Carnegie, Oklahoma, play an essential role in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Carnegie is 1.05%, which is notably higher than the U.S. national median of 0.99%. Local government entities within Carnegie set these rates annually, and they can vary across different neighborhoods. Each year, Carnegie 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 Carnegie's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73015 in Carnegie has both the highest and lowest median property tax rate of 1.05%. Understanding how these figures compare with Carnegie provides valuable insights into the varying tax landscape across Kiowa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carnegie Tax Rate
1.05%
Average Kiowa County Tax Rate
0.85%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carnegie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73015 | 0.84% | 0.88% | 1.05% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Carnegie, Oklahoma
In Carnegie, 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 Kiowa 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 Carnegie, 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. The median home price in Carnegie is $72,316, with tax bills ranging from $451 at the 25th percentile to $2,296 at the 90th percentile. The highest and lowest median tax bills are both $682 in the 73015 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carnegie Assessed Value
$72,316
Average Kiowa County Assessed Value
$46,198
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carnegie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73015 | $41,663 | $56,305 | $72,316 | $147,582 | $216,164 |
Source: Ownwell
Property Tax Bills Across Carnegie, Oklahoma
In Carnegie, located in Kiowa County, OK, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For homeowners in Carnegie, the median home price is $72,316. Tax bills can vary significantly, with the 25th percentile paying around $451 annually, while those in the 75th percentile face bills of approximately $1,715. Homeowners in the 90th percentile see even higher bills, reaching up to $2,296. The tax rate in Carnegie is influenced by local government budgets and funding requirements for public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Carnegie's tax rates can have a considerable impact on household budgets, especially for those at the higher end of the tax spectrum. This variability underscores the importance of understanding how property taxes are assessed and their potential financial implications for homeowners.
Average Carnegie Tax Bill
$682
Average Kiowa County Tax Bill
$368
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Carnegie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73015 | $382 | $451 | $682 | $1,715 | $2,296 |
Source: Ownwell