Hooker, Oklahoma Property Taxes
The median property tax rate in Hooker, OK is 0.54%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Hooker at $102,609, the typical annual property tax bill is $506, well below the national median of $2,690. Property taxes in Hooker are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hooker's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hooker or another part of Texas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hooker, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$554
Ownwell’s Hooker Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hooker with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hooker 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 Hooker, Oklahoma
Property taxes in Hooker, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hooker is 0.54%, significantly lower than the U.S. national median of 0.99%. Local government entities within Hooker set these rates annually, and they can vary across different neighborhoods. Each year, Hooker 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. Understanding how Hooker's effective property tax rate compares to other regions provides valuable insights into the varying tax landscape across Texas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hooker Tax Rate
0.54%
Average Texas County Tax Rate
0.69%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hooker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73945 | 0.24% | 0.37% | 0.54% | 0.69% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Hooker, Oklahoma
In Hooker, 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 Texas 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 Hooker, 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. For instance, the highest median tax bill in the area is $506, found in the 73945 zip code. 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 Hooker helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hooker Assessed Value
$102,609
Average Texas County Assessed Value
$112,882
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hooker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73945 | $46,265 | $71,461 | $102,609 | $144,280 | $200,321 |
Source: Ownwell
Property Tax Bills Across Hooker, Oklahoma
In Hooker, 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 Hooker is $102,609. Property taxes are then determined by applying the local tax rate to this assessed value. Factors such as property size, location, and improvements can influence the assessed value, thereby impacting the final tax bill. For homeowners in Hooker, the 25th percentile tax bill is $298, while the 75th percentile tax bill reaches $816. At the 90th percentile, the tax bill can go up to $1,195. These figures indicate that while some homeowners pay relatively low property taxes, others might face significantly higher bills. Compared to the national median property tax rate of 0.99%, the property tax rates in Hooker are relatively moderate, making it a potentially attractive location for homeowners seeking lower tax liabilities.
Average Hooker Tax Bill
$506
Average Texas County Tax Bill
$698
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hooker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73945 | $174 | $298 | $506 | $816 | $1,195 |
Source: Ownwell