Oktaha, Oklahoma Property Taxes
The median property tax rate in Oktaha, Oklahoma is 0.86%, 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 Oktaha at $134,458, the typical annual property tax bill amounts to $934, significantly less than the national median of $2,690. Property taxes in Oktaha are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Oktaha's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Oktaha or another part of McIntosh County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oktaha, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,156
Ownwell’s Oktaha Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oktaha with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oktaha 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 Oktaha, Oklahoma
Property taxes in Oktaha, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oktaha is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Oktaha set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oktaha 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 Oktaha's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74450 has a median property tax rate of 0.86%, which is consistent across the board. Understanding how these cities compare with Oktaha 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 Oktaha Tax Rate
0.86%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oktaha, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74450 | 0.51% | 0.59% | 0.86% | 0.91% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Oktaha, Oklahoma
In Oktaha, 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 Oktaha, 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 Oktaha helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $934.00 in zip code 74450, which is also the lowest median tax bill.
Average Oktaha Assessed Value
$134,458
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 Oktaha, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74450 | $15,550 | $52,192 | $134,458 | $202,738 | $231,064 |
Source: Ownwell
Property Tax Bills Across Oktaha, Oklahoma
In Oktaha, McIntosh County, OK, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is a percentage of the market value, which local assessors determine. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For example, with a median home price of $134,458, the tax bill can vary significantly. Homeowners at the 25th percentile pay around $308, while those at the 75th percentile face bills of approximately $1,218. The highest median tax bill in the area is $934, which is notably lower than the national median property tax rate of 0.99%. These taxes fund essential services like schools, public safety, and infrastructure. Consequently, property taxes can significantly impact homeowners’ financial planning, influencing decisions on home purchases and long-term investments. Understanding how these taxes are calculated helps homeowners anticipate their annual expenses and manage their budgets effectively.
Average Oktaha Tax Bill
$934
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Oktaha, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74450 | $145 | $308 | $934 | $1,218 | $1,966 |
Source: Ownwell