Skiatook, Oklahoma Property Taxes
The median property tax rate in Skiatook, OK is 1.12%, which is higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $98,705 in Skiatook, the typical annual property tax bill is approximately $998, which is significantly lower than the national median of $2,690. Property taxes in Skiatook are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Skiatook's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Skiatook or another part of Washington County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Skiatook, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,105
Ownwell’s Skiatook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Skiatook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Skiatook 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 Skiatook, Oklahoma
Property taxes in Skiatook, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Skiatook is 1.12%, significantly higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Skiatook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Skiatook 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 Skiatook's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74070 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these areas compare with Skiatook provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Skiatook Tax Rate
1.12%
Average Washington County Tax Rate
1.17%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Skiatook, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74070 | 0.57% | 0.88% | 1.12% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Skiatook, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Skiatook, Oklahoma. 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 Washington 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 Skiatook, 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 median home price in Skiatook is $98,705, with tax bills ranging from $592 at the 25th percentile to $2,591 at the 90th percentile. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Skiatook Assessed Value
$98,705
Average Washington County Assessed Value
$108,690
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Skiatook, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74070 | $45,416 | $66,106 | $98,705 | $155,946 | $230,939 |
Source: Ownwell
Property Tax Bills Across Skiatook, Oklahoma
In Skiatook, Washington County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $98,705, the tax bill can vary significantly. Homeowners in the 25th percentile might see tax bills around $592, while those in the 75th percentile could face bills up to $1,701. At the 90th percentile, tax bills can reach as high as $2,591. Several factors influence these tax bills, including property size, location, and any applicable exemptions. The highest median tax bill recorded in the area is $998, while the lowest is also $998, indicating a uniform rate within the zip code 74070. Compared to the national median property tax rate of 0.99%, Skiatook's property tax rate provides a relatively affordable option for homeowners, impacting their overall cost of living and financial planning.
Average Skiatook Tax Bill
$998
Average Washington County Tax Bill
$1,167
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Skiatook, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74070 | $350 | $592 | $998 | $1,701 | $2,591 |
Source: Ownwell