Catoosa, Oklahoma Property Taxes
The median property tax rate in Catoosa, OK is 0.71%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $177,522, the typical annual property tax bill in Catoosa amounts to $1,123, significantly below the national median of $2,690. Property taxes in Catoosa are determined based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. By understanding Catoosa's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Catoosa or another part of the city, gaining insight into the local property tax system is essential for optimizing your property tax expenses.
Last Updated June 14, 2024
Catoosa, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,260
Ownwell’s Catoosa Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Catoosa with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Catoosa to provide an estimated property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, scroll down to discover more localized information. Your property’s assessed value is the figure assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Catoosa, Oklahoma
Property taxes in Catoosa, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Catoosa is 0.88%, which is higher than the Oklahoma state median of 0.87% but still below the U.S. national median of 0.99%. Local government entities within Catoosa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Catoosa 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 Catoosa's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74015 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these areas compare with Catoosa provides valuable insights into the varying tax landscape across Rogers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Catoosa Tax Rate
0.71%
Average Wagoner County Tax Rate
0.86%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Catoosa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74015 | 0.40% | 0.56% | 0.71% | 0.85% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Catoosa, Oklahoma
In Catoosa, 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 local 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 Catoosa, 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 zip code 74015 has the highest and lowest median tax bill at $1,123. 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 Catoosa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Catoosa Assessed Value
$177,522
Average Wagoner County Assessed Value
$214,676
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Catoosa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74015 | $37,788 | $84,306 | $177,522 | $263,728 | $345,712 |
Source: Ownwell
Property Tax Bills Across Catoosa, Oklahoma
Property tax bills in Catoosa, Wagoner County, OK, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value. In Catoosa, the median home price is $177,522, and the tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including property location, size, and condition. For instance, homes in the 25th percentile of tax bills pay around $499 annually, while those in the 75th percentile pay approximately $1,870. At the higher end, the 90th percentile tax bill reaches $2,662. These property tax bills impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, homeowners in Catoosa may find their tax bills relatively manageable. However, variations within the city, such as the highest median tax bill of $1,123 in the 74015 zip code, show that tax liabilities can differ significantly based on specific property attributes.
Average Catoosa Tax Bill
$1,123
Average Wagoner County Tax Bill
$1,718
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Catoosa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74015 | $236 | $499 | $1,123 | $1,870 | $2,662 |
Source: Ownwell