Blackburn, Oklahoma Property Taxes
The median property tax rate in Blackburn, OK is 0.93%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Blackburn, the typical annual property tax bill reaches $347, significantly below the national median of $2,690. Property taxes in Blackburn 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 Blackburn'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 Blackburn 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
Blackburn, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$370
Ownwell’s Blackburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blackburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blackburn 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 Blackburn, Oklahoma
Property taxes in Blackburn, Oklahoma, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Blackburn is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Blackburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blackburn 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 Blackburn's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74058 zip code has both the highest and lowest median property tax rate of 0.93%. Understanding how these cities compare with Blackburn provides valuable insights into the varying tax landscape across Pawnee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blackburn Tax Rate
0.93%
Average Pawnee County Tax Rate
0.99%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blackburn, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74058 | 0.48% | 0.72% | 0.93% | 1.11% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Blackburn, Oklahoma
In Blackburn, 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 Pawnee 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 Blackburn, 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 the area is $347 in zip code 74058, while the lowest median tax bill is also $347 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Blackburn Assessed Value
$39,732
Average Pawnee County Assessed Value
$70,521
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blackburn, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74058 | $14,365 | $26,430 | $39,732 | $72,230 | $161,118 |
Source: Ownwell
Property Tax Bills Across Blackburn, Oklahoma
In Blackburn, property tax bills are calculated based on the assessed value of the home, which is typically a percentage of the market value. For instance, with a median home price of $39,732, the tax bill can vary significantly. The tax liability is influenced by local tax rates and any applicable exemptions or deductions. Homeowners in Blackburn can expect tax bills to range widely; the 25th percentile tax bill is $181, while the 75th percentile reaches $763, and the 90th percentile goes up to $1,053. These figures indicate that property taxes can have a substantial impact on homeowners, making it crucial to understand how these bills are determined. Compared to the national median property tax rate of 0.99%, Blackburn's property taxes can be relatively moderate, but they still represent a significant annual expense. By staying informed about assessed values and potential exemptions, homeowners can better manage their tax liabilities and plan their finances accordingly.
Average Blackburn Tax Bill
$347
Average Pawnee County Tax Bill
$656
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Blackburn, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74058 | $123 | $181 | $347 | $763 | $1,053 |
Source: Ownwell