Schulter, Oklahoma Property Taxes
The median property tax rate in Schulter, OK is 0.52%, which is significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Schulter at $33,277, the typical annual property tax bill comes to $206, far below the national median of $2,690. Property taxes in Schulter 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 Schulter'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 Schulter 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
Schulter, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$173
Ownwell’s Schulter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Schulter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Schulter 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 Schulter, Oklahoma
Property taxes in Schulter, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Schulter is 0.52%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Schulter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Schulter 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 Schulter's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74460 has both the highest and lowest median property tax rate of 0.52%. Understanding how these cities compare with Schulter 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 Schulter Tax Rate
0.52%
Average Okmulgee County Tax Rate
0.92%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Schulter, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74460 | 0.16% | 0.35% | 0.52% | 0.75% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Schulter, Oklahoma
In Schulter, 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 Schulter, 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 Schulter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Schulter is $33,277, with tax bills ranging from $95 at the 25th percentile to $538 at the 90th percentile. The highest and lowest median tax bills are both $206 in the 74460 zip code.
Average Schulter Assessed Value
$33,277
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 Schulter, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74460 | $18,937 | $22,946 | $33,277 | $54,855 | $88,045 |
Source: Ownwell
Property Tax Bills Across Schulter, Oklahoma
In Schulter, 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 Schulter is $33,277. Property taxes are determined by multiplying the assessed value by the local tax rate. For Schulter, the median property tax bill is $206, significantly lower than the national median property tax rate of 0.99%. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Schulter can expect their tax bills to vary, with the 25th percentile tax bill at $95 and the 75th percentile at $318. At the 90th percentile, tax bills can reach up to $538. These variations affect homeowners differently, with lower-valued properties benefiting from reduced tax burdens, while higher-valued properties contribute more. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets effectively.
Average Schulter Tax Bill
$206
Average Okmulgee County Tax Bill
$510
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Schulter, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74460 | $36 | $95 | $206 | $318 | $538 |
Source: Ownwell