Catoosa, Oklahoma Property Taxes
The median property tax rate in Catoosa, OK is 1.02%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Catoosa at $180,934, the typical annual property tax bill reaches $1,817, which is below the national median of $2,690. Property taxes in Catoosa are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Catoosa'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 Catoosa 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
Catoosa, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$1,846
Ownwell's Catoosa Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Catoosa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Catoosa to provide an estimated property tax bill. This valuable tool aids in understanding potential tax liabilities, offering clarity and financial foresight. For those keen on exploring trends at a neighborhood level, additional localized information is available below. Your property's assessed value, determined by the county, is crucial for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Catoosa, Oklahoma
Property taxes in Catoosa, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Catoosa is 0.87%, which is lower than both the Oklahoma state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Catoosa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Catoosa 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 Catoosa's effective property tax rate to other counties in Oklahoma and the national median. Understanding how these cities compare with Catoosa provides valuable insights into the varying tax landscape across Rogers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Catoosa Tax Rate
1.02%
Average Rogers County Tax Rate
0.95%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Catoosa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74015 | 0.72% | 0.90% | 1.02% | 1.10% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Catoosa, Oklahoma
In Catoosa, 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 Rogers 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 Catoosa, 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 Catoosa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 74015 has the highest and lowest median tax bill, both at $1,817.
Average Catoosa Assessed Value
$180,934
Average Rogers County Assessed Value
$177,436
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Catoosa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74015 | $66,172 | $120,800 | $180,934 | $279,816 | $371,815 |
Source: Ownwell
Property Tax Bills Across Catoosa, Oklahoma
In Catoosa, 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 Catoosa is $180,934. To determine the tax bill, local tax rates are applied to this assessed value. Several factors influence the final tax bill, including property location, improvements, and any applicable exemptions. For homeowners in Catoosa, the tax bill can vary significantly. The 25th percentile tax bill is around $1,086, while the 75th percentile reaches up to $2,693. At the higher end, the 90th percentile tax bill can be as much as $3,894. Interestingly, the highest and lowest median tax bills in the region are both $1,817, found in zip code 74015. These property taxes directly impact homeowners by affecting their annual financial planning and overall housing costs. Compared to the national median property tax rate of 0.99%, Catoosa's rates provide a useful benchmark for understanding local tax obligations.
Average Catoosa Tax Bill
$1,817
Average Rogers County Tax Bill
$1,648
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Catoosa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74015 | $608 | $1,086 | $1,817 | $2,693 | $3,894 |
Source: Ownwell