Hollister, Oklahoma Property Taxes
The median property tax rate in Hollister, OK is 0.94%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Hollister at $37,325, the typical annual property tax bill is around $340, significantly lower than the national median of $2,690. Property taxes in Hollister are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Hollister'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 Hollister 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
Hollister, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$351
Ownwell’s Hollister Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hollister with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hollister 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 Hollister, Oklahoma
Property taxes in Hollister, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hollister is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Hollister set these rates annually, and they can vary across different neighborhoods. Each year, Hollister 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 Hollister's effective property tax rate to other regions in Oklahoma and the national median. For comparison, the 73551 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these figures compare with Hollister provides valuable insights into the varying tax landscape across Tillman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hollister Tax Rate
0.94%
Average Tillman County Tax Rate
0.98%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hollister, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73551 | 0.60% | 0.72% | 0.94% | 1.07% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Hollister, Oklahoma
In Hollister, 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 Tillman County Appraisal District 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 Hollister, 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 Hollister helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Hollister is 73551, with a median tax bill of $340. This same zip code also has the lowest median tax bill at $340, reflecting a uniform property tax landscape in the area.
Average Hollister Assessed Value
$37,325
Average Tillman County Assessed Value
$29,168
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hollister, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73551 | $10,662 | $15,221 | $37,325 | $57,178 | $77,528 |
Source: Ownwell
Property Tax Bills Across Hollister, Oklahoma
In Hollister, located in Tillman County, OK, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The assessed value is typically a percentage of the market value, and this percentage can vary depending on local regulations. Homeowners in Hollister can expect their property tax bills to fall between the 25th percentile at $142 and the 90th percentile at $784, with the highest median tax bill recorded at $340 in the 73551 zip code. Several factors influence the final tax bill, including the assessed value of the property, any applicable exemptions, and the local tax rate. These taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Hollister's property tax rates can be considered relatively moderate. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan accordingly.
Average Hollister Tax Bill
$340
Average Tillman County Tax Bill
$271
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hollister, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73551 | $76 | $142 | $340 | $529 | $784 |
Source: Ownwell