Henryetta, Oklahoma Property Taxes
The median property tax rate in Henryetta, OK is 0.82%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $50,840 in Henryetta, the typical annual property tax bill amounts to $400, significantly below the national median of $2,690. Property taxes in Henryetta are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Henryetta'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 Henryetta 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
Henryetta, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$417
Ownwell’s Henryetta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Henryetta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Henryetta 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 Henryetta, Oklahoma
Property taxes in Henryetta, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Henryetta is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Henryetta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Henryetta 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 Henryetta's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74437 has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Henryetta provides valuable insights into the varying tax landscape across Okmulgee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Henryetta Tax Rate
0.82%
Average Okmulgee County Tax Rate
0.92%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Henryetta, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74437 | 0.38% | 0.59% | 0.82% | 1.07% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Henryetta, Oklahoma
In Henryetta, 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 Okmulgee 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 Henryetta, 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 Henryetta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Henryetta is 74437, with a bill of $400.
Average Henryetta Assessed Value
$50,840
Average Okmulgee County Assessed Value
$63,421
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Henryetta, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74437 | $19,888 | $28,479 | $50,840 | $96,828 | $159,419 |
Source: Ownwell
Property Tax Bills Across Henryetta, Oklahoma
In Henryetta, located in Okmulgee County, OK, 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 Henryetta stands at $50,840. The property tax rate is applied to this assessed value to determine the annual tax bill. For homeowners, the tax bill can vary significantly. The 25th percentile tax bill is around $224, while the 75th percentile tax bill reaches up to $773. At the 90th percentile, homeowners can expect to pay approximately $1,385. Several factors influence these variations, including property improvements, market fluctuations, and local tax rates. Compared to the national median property tax rate of 0.99%, Henryetta's property taxes can be relatively modest, making it an attractive location for potential homeowners. Understanding how these factors affect property tax bills is crucial for homeowners to budget effectively and anticipate future expenses.
Average Henryetta Tax Bill
$400
Average Okmulgee County Tax Bill
$510
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Henryetta, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74437 | $119 | $224 | $400 | $773 | $1,385 |
Source: Ownwell