Bixby, Oklahoma Property Taxes
The median property tax rate in Bixby, OK is 1.44%, significantly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Bixby at $219,670, the typical annual property tax bill reaches $3,171, surpassing the national median of $2,690. Property taxes in Bixby are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bixby'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 Bixby or another part of Tulsa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bixby, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$3,163
Ownwell’s Bixby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bixby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bixby 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 Bixby, Oklahoma
Property taxes in Bixby, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bixby is 1.44%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bixby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bixby 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 Bixby's effective property tax rate to other areas and the national median. For comparison, the zip code 74008 has the highest median property tax rate of 1.44%, and the lowest median tax rate is also 1.44% in the same zip code. Understanding how these areas compare with Bixby provides valuable insights into the varying tax landscape across Tulsa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bixby Tax Rate
1.44%
Average Tulsa County Tax Rate
1.31%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bixby, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74008 | 1.17% | 1.33% | 1.44% | 1.52% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Bixby, Oklahoma
In Bixby, 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 Tulsa 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 Bixby, 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 Bixby 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 is 74008, with a median tax bill of $3,171.
Average Bixby Assessed Value
$219,670
Average Tulsa County Assessed Value
$152,469
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bixby, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74008 | $73,179 | $153,500 | $219,670 | $317,000 | $416,010 |
Source: Ownwell
Property Tax Bills Across Bixby, Oklahoma
In Bixby, located in Tulsa County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. For homeowners in Bixby, the median home price is $219,670, and the property tax rate in Tulsa County falls around the national median of 0.99%. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and the local tax rate. Homeowners in Bixby can expect tax bills to vary significantly; for example, the 25th percentile tax bill is around $2,156, while the 75th percentile tax bill reaches up to $4,697. At the higher end, the 90th percentile tax bill can be as much as $6,254. This variation in tax bills affects homeowners differently, depending on their property's assessed value and the exemptions they qualify for, impacting their annual financial planning and budgeting.
Average Bixby Tax Bill
$3,171
Average Tulsa County Tax Bill
$1,876
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Bixby, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74008 | $1,142 | $2,156 | $3,171 | $4,697 | $6,254 |
Source: Ownwell