Beaver, Oklahoma Property Taxes
The median property tax rate in Beaver, Oklahoma is 0.79%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Beaver at $79,414, the typical annual property tax bill amounts to $581, well below the national median of $2,690. Property taxes in Beaver are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Beaver'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 Beaver 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
Beaver, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$627
Ownwell’s Beaver Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beaver with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beaver 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 Beaver, Oklahoma
Property taxes in Beaver, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beaver is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Beaver set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beaver 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 Beaver's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73932 has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Beaver provides valuable insights into the varying tax landscape across Beaver County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beaver Tax Rate
0.79%
Average Beaver County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beaver, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73932 | 0.50% | 0.65% | 0.79% | 0.89% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Beaver, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Beaver, 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 Beaver 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 Beaver, 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. For instance, the median home price in Beaver is $79,414, with tax bills ranging from $342 at the 25th percentile to $1,425 at the 90th percentile. The highest and lowest median tax bills are both found in zip code 73932, at $581. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beaver Assessed Value
$79,414
Average Beaver County Assessed Value
$81,838
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beaver, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73932 | $29,314 | $48,391 | $79,414 | $120,971 | $173,452 |
Source: Ownwell
Property Tax Bills Across Beaver, Oklahoma
In Beaver, Oklahoma, property tax bills are determined by assessing the value of a property and applying the local tax rate to that assessed value. The median home price in Beaver is $79,414, which serves as a baseline for calculating property taxes. Local authorities evaluate various factors such as property size, location, and condition to determine its assessed value. This assessed value is then multiplied by the local tax rate to produce the annual tax bill. For homeowners in Beaver, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $342, while the 75th percentile tax bill is $940, and those in the 90th percentile can expect to pay around $1,425. These figures highlight the range of property tax burdens that homeowners might encounter based on their specific property assessments. Compared to the national median property tax rate of 0.99%, Beaver's property tax rates offer a relatively moderate financial impact on homeowners, ensuring that property taxes remain manageable for most residents.
Average Beaver Tax Bill
$581
Average Beaver County Tax Bill
$600
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Beaver, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73932 | $200 | $342 | $581 | $940 | $1,425 |
Source: Ownwell