Agra, Oklahoma Property Taxes
The median property tax rate in Agra, OK is 0.87%, 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 Agra at $192,650, the typical annual property tax bill reaches $1,542, falling below the national median of $2,690. Property taxes in Agra 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 Agra'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 Agra or another part of Payne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Agra, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,676
Ownwell's Agra Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Agra with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Agra 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 Agra, Oklahoma
Property taxes in Agra, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Agra is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Agra set these rates annually, and they can vary significantly across different neighborhoods. Each year, Agra 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 Agra's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74824 zip code has the highest median property tax rate of 0.87%, while the same 74824 zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Agra provides valuable insights into the varying tax landscape across Payne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Agra Tax Rate
0.87%
Average Payne County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Agra, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74824 | 0.59% | 0.71% | 0.87% | 0.99% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Agra, Oklahoma
In Agra, 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 Payne 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 Agra, 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 median home price in Agra is $192,650, with tax bills ranging from $925 at the 25th percentile to $3,480 at the 90th percentile. The zip code 74824 has the highest and lowest median tax bill at $1,542. Being aware of these valuation processes in Agra helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Agra Assessed Value
$192,650
Average Payne County Assessed Value
$185,340
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Agra, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74824 | $83,379 | $119,480 | $192,650 | $292,115 | $364,213 |
Source: Ownwell
Property Tax Bills Across Agra, Oklahoma
In Agra, Payne County, OK, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $192,650, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $925, while those in the 75th percentile might see bills as high as $2,726. Even more, those in the 90th percentile could face tax bills up to $3,480. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Payne County's rates are relatively moderate, making it an attractive location for homeowners. However, understanding these factors and their implications is crucial for homeowners to manage their financial planning effectively.
Average Agra Tax Bill
$1,542
Average Payne County Tax Bill
$1,635
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Agra, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74824 | $528 | $925 | $1,542 | $2,726 | $3,480 |
Source: Ownwell