Optima, Oklahoma Property Taxes
The median property tax rate in Optima, OK is 0.21%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $81,673 in Optima, the typical annual property tax bill is $173, well below the national median of $2,690. Property taxes in Optima 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 Optima'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 Optima 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
Optima, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.21%
Estimate Property Tax Bill
$172
Ownwell’s Optima Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Optima with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Optima 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 Optima, Oklahoma
Property taxes in Optima, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Optima is 0.56%, which is higher than the Oklahoma state median of 0.50% but still below the U.S. national median of 0.99%. Local government entities within Optima set these rates annually, and they can vary significantly across different neighborhoods. Each year, Optima 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. For comparison, the zip code 73102 has the highest median property tax rate of 0.68%, while zip code 73120 has the lowest median tax rate of 0.45%. Understanding how these cities compare with Optima 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 Optima Tax Rate
0.21%
Average Texas County Tax Rate
0.69%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Optima, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73945 | 0.21% | 0.21% | 0.21% | 0.21% | 0.21% |
Source: Ownwell
Property Tax Assessment Values Across Optima, Oklahoma
In Optima, 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 Optima, 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 Optima helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Optima's zip code 73945 has both the highest and lowest median tax bill of $173.
Average Optima Assessed Value
$81,673
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 Optima, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73945 | $81,673 | $81,673 | $81,673 | $81,673 | $81,673 |
Source: Ownwell
Property Tax Bills Across Optima, Oklahoma
In Optima, Texas County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Optima stands at $81,673. Property taxes are generally determined by multiplying the assessed value by the local tax rate. In this region, the property tax rate is consistent, leading to a median tax bill of $173, regardless of the home's value percentile. This rate is significantly lower than the national median property tax rate of 0.99%. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners, this means that even minor changes in the assessed value can impact their annual tax bill. The relatively low property tax rate in Optima provides a financial advantage for homeowners, making it an attractive location for those looking to minimize their tax burden while still enjoying the benefits of homeownership.
Average Optima Tax Bill
$173
Average Texas County Tax Bill
$698
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Optima, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73945 | $173 | $173 | $173 | $173 | $173 |
Source: Ownwell