Jenks, Oklahoma Property Taxes
The median property tax rate in Jenks, OK is 1.33%, noticeably higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Jenks at $219,109, the typical annual property tax bill reaches $2,821, surpassing the national median of $2,690. Property taxes in Jenks 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 Jenks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Jenks 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
Jenks, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$2,914
Ownwell’s Jenks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jenks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jenks 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 Jenks, Oklahoma
Property taxes in Jenks, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jenks is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Jenks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jenks 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 Jenks's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74037 zip code has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Jenks 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 Jenks Tax Rate
1.33%
Average Tulsa County Tax Rate
1.31%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jenks, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74037 | 1.13% | 1.24% | 1.33% | 1.40% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Jenks, Oklahoma
In Jenks, 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 Jenks, 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. Jenks homeowners, for instance, face median tax bills ranging from $2,116 at the 25th percentile to $5,558 at the 90th percentile. The zip code 74037 has both the highest and lowest median tax bill at $2,821. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jenks Assessed Value
$219,109
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 Jenks, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74037 | $120,262 | $170,500 | $219,109 | $300,720 | $402,904 |
Source: Ownwell
Property Tax Bills Across Jenks, Oklahoma
Property tax bills in Jenks, located in Tulsa County, OK, are determined based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property improvements, neighborhood developments, and local government budgets can influence the assessed value. In Jenks, the median home price is $219,109, leading to varying tax bills. For example, at the 25th percentile, homeowners can expect a tax bill of $2,116, while those at the 75th percentile may see bills around $4,022. At the 90th percentile, tax bills can reach up to $5,558. Compared to the national median property tax rate of 0.99%, Jenks' rates can significantly impact homeowners, affecting their annual financial planning and long-term investment in their properties. Understanding these factors can help homeowners anticipate their tax obligations and manage their budgets more effectively.
Average Jenks Tax Bill
$2,821
Average Tulsa County Tax Bill
$1,876
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Jenks, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74037 | $1,412 | $2,116 | $2,821 | $4,022 | $5,558 |
Source: Ownwell