Eufaula, Oklahoma Property Taxes
The median property tax rate in Eufaula, OK is 0.68%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Eufaula at $111,226, the typical annual property tax bill amounts to $654, which is considerably below the national median of $2,690. Property taxes in Eufaula are determined based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Eufaula'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 Eufaula 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
Eufaula, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$756
Ownwell’s Eufaula Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eufaula with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eufaula 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 Eufaula, Oklahoma
Property taxes in Eufaula, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eufaula is 0.68%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Eufaula set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eufaula 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 Eufaula's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74432 has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Eufaula provides valuable insights into the varying tax landscape across Pittsburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eufaula Tax Rate
0.68%
Average Pittsburg County Tax Rate
0.73%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eufaula, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74432 | 0.34% | 0.49% | 0.68% | 0.84% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Eufaula, Oklahoma
In Eufaula, 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 Pittsburg 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 Eufaula, 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. The median home price in Eufaula is approximately $111,226, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $238, while the 75th percentile tax bill is $1,678. The highest median tax bill is $654 in the 74432 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eufaula Assessed Value
$111,226
Average Pittsburg County Assessed Value
$87,046
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eufaula, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74432 | $23,381 | $46,651 | $111,226 | $240,405 | $452,450 |
Source: Ownwell
Property Tax Bills Across Eufaula, Oklahoma
In Eufaula, property tax bills are calculated based on the assessed value of a home, which is derived from a percentage of the market value. For example, with a median home price of $111,226, the assessed value is determined, and then local tax rates are applied to calculate the final tax bill. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. Homeowners in Eufaula can expect their tax bills to vary significantly. The 25th percentile tax bill is approximately $238, while the 75th percentile tax bill rises to around $1,678. At the 90th percentile, some homeowners may see tax bills as high as $3,583. These variations highlight the impact of property values and local tax rates on individual tax obligations. Compared to the national median property tax rate of 0.99%, Eufaula's property tax rates and bills can provide a relatively affordable option for homeowners, though individual circumstances will vary.
Average Eufaula Tax Bill
$654
Average Pittsburg County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Eufaula, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74432 | $115 | $238 | $654 | $1,678 | $3,583 |
Source: Ownwell