Keota, Oklahoma Property Taxes
The median property tax rate in Keota, OK is 0.87%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Keota at $59,384, the typical annual property tax bill is $484, well below the national median of $2,690. Property taxes in Keota are calculated based on the tax assessed value, which typically 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
0.87%
Estimate Property Tax Bill
$517
Ownwell’s Keota Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner 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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keota is 0.87%, which is lower than both the Oklahoma state median and 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 0.87%. Understanding how these cities compare with Keota provides valuable insights into the varying tax landscape across Le Flore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keota Tax Rate
0.87%
Average Le Flore County Tax Rate
0.80%
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 | 0.52% | 0.71% | 0.87% | 1.00% | 1.00% |
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 Le Flore 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. Being aware of these valuation processes in Keota helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 74941, with a median tax bill of $484.
Average Keota Assessed Value
$59,384
Average Le Flore County Assessed Value
$72,264
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 | $20,209 | $33,087 | $59,384 | $101,034 | $189,811 |
Source: Ownwell
Property Tax Bills Across Keota, Oklahoma
In Keota, located in Le Flore County, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Keota is $59,384. Property taxes are then determined by applying the local tax rate to the assessed value. For homeowners in Keota, tax bills can vary significantly, with the 25th percentile at $265 and the 75th percentile reaching $896. At the higher end, the 90th percentile tax bill is $1,614. These amounts are influenced by several factors, including the home's market value, any applicable exemptions, and the local tax rate. The highest and lowest median tax bills in Keota are both $484, indicating a relatively uniform property tax landscape within the area. Compared to the national median property tax rate of 0.99%, Keota homeowners benefit from relatively lower property taxes, which can ease the financial burden on residents and make homeownership more affordable.
Average Keota Tax Bill
$484
Average Le Flore County Tax Bill
$517
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 | $101 | $265 | $484 | $896 | $1,614 |
Source: Ownwell