Foraker, Oklahoma Property Taxes
The median property tax rate in Foraker, OK is 0.91%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Foraker, the typical annual property tax bill is $158, significantly below the national median of $2,690. Property taxes in Foraker 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 Foraker'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 Foraker 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
Foraker, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$155
Ownwell’s Foraker Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Foraker with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Foraker 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 Foraker, Oklahoma
Property taxes in Foraker, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Foraker is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Foraker set these rates annually, and they can vary significantly across different neighborhoods. Each year, Foraker 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 Foraker's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74652 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Foraker provides valuable insights into the varying tax landscape across Osage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Foraker Tax Rate
0.91%
Average Osage County Tax Rate
1.07%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Foraker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74652 | 0.74% | 0.80% | 0.91% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Foraker, Oklahoma
In Foraker, 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 Osage County Appraisal District 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 Foraker, 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. For instance, the highest median tax bill in Foraker is $158.00, while the lowest is also $158.00, both in the zip code 74652. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Foraker Assessed Value
$17,044
Average Osage County Assessed Value
$85,955
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Foraker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74652 | $3,937 | $8,852 | $17,044 | $24,484 | $28,949 |
Source: Ownwell
Property Tax Bills Across Foraker, Oklahoma
In Foraker, property tax bills are calculated based on the assessed value of your home, which is determined by the Osage County Assessor's office. The assessed value is a percentage of the market value of your property. This value is then multiplied by the local tax rate to determine your annual tax bill. Several factors influence your property tax bill, including the median home price in Foraker, which is $17,044. Homeowners here typically see tax bills ranging from $82 at the 25th percentile to $190 at the 75th percentile, with the 90th percentile reaching up to $210. The median tax bill in the area is $158, which is significantly lower than the national median property tax rate of 0.99%. Foraker's relatively low property tax rates can provide a financial advantage to homeowners, making it an attractive place to live for those looking to save on annual property expenses. However, it's important to stay informed about local assessments and tax rate changes to manage your budget effectively.
Average Foraker Tax Bill
$158
Average Osage County Tax Bill
$840
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Foraker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74652 | $36 | $82 | $158 | $190 | $210 |
Source: Ownwell