Bixby, Oklahoma Property Taxes
The median property tax rate in Bixby, OK is 0.93%, slightly below the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Bixby at $52,213, the typical annual property tax bill amounts to $488, significantly lower than the national median of $2,690. Property taxes in Bixby 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 Bixby'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 Bixby 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
Bixby, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$486
Ownwell’s Bixby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bixby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bixby 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 Bixby, Oklahoma
Property taxes in Bixby, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bixby is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Bixby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bixby 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 Bixby's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74008 has both the highest and lowest median property tax rate of 0.93%. Understanding how these areas compare with Bixby provides valuable insights into the varying tax landscape across McIntosh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bixby Tax Rate
0.93%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bixby, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74008 | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Bixby, Oklahoma
In Bixby, 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 McIntosh 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 Bixby, 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 Bixby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74008 has both the highest and lowest median tax bill at $488.
Average Bixby Assessed Value
$52,213
Average Mcintosh County Assessed Value
$81,769
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bixby, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74008 | $52,213 | $52,213 | $52,213 | $52,213 | $52,213 |
Source: Ownwell
Property Tax Bills Across Bixby, Oklahoma
In Bixby, McIntosh County, OK, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For Bixby, the median home price stands at $52,213, and the property tax rate is relatively low compared to the national median of 0.99%. Homeowners in Bixby can expect a consistent tax bill, with the 25th, 75th, and 90th percentiles all at $488. This uniformity reflects the area's stable property values and tax policies. The highest and lowest median tax bills in Bixby are also $488, indicating a standardized approach to property taxation. For homeowners, this means predictable annual expenses, which can aid in financial planning and budgeting. The relatively low property tax rate in Bixby offers a financial advantage, making it an attractive location for potential homebuyers looking for affordability in property taxes.
Average Bixby Tax Bill
$488
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Bixby, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74008 | $488 | $488 | $488 | $488 | $488 |
Source: Ownwell