Turpin, Beaver County, Oklahoma Property Taxes
The median property tax rate in Turpin, OK is 0.78%, 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 $100,801, the typical annual property tax bill in Turpin amounts to $729, significantly below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Turpin'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 Turpin or another part of Beaver County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Turpin, Beaver County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$786
$730
Ownwell’s Turpin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Turpin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Turpin 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 Turpin, Beaver County, Oklahoma
Property taxes in Turpin, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Turpin is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Turpin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Turpin 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. Understanding how these cities compare with Turpin 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 Turpin Tax Rate
0.78%
Average Beaver County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Turpin, Beaver County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73950 | 0.50% | 0.63% | 0.78% | 0.86% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Turpin, Beaver County, Oklahoma
In Turpin, 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 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 Turpin, 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 Turpin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Turpin is $729, with the highest and lowest median tax bills both found in the 73950 zip code.
Property Tax Assessment Values Across Turpin, Beaver County, Oklahoma
Source: Ownwell
$59,849
$80,325
$100,801
Average Turpin Assessed Value
$100,801
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 Turpin, Beaver County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73950 | $29,601 | $49,321 | $100,801 | $160,000 | $233,861 |
Source: Ownwell
Property Tax Bills Across Turpin, Beaver County, Oklahoma
Property tax bills in Turpin, located in Beaver County, OK, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For homeowners in Turpin, the median home price is $100,801. The property tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and market conditions can influence the assessed value. In Turpin, the 25th percentile tax bill is $350, while the 75th percentile tax bill is $1,209, and the 90th percentile tax bill reaches $1,861. These figures highlight the range of property tax obligations that homeowners might face, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Turpin's property tax bills reflect the local economic conditions and property values. This can significantly impact homeowners' annual financial planning, as higher property taxes can increase the cost of homeownership.
Average Turpin Tax Bill
$729
Average Beaver County Tax Bill
$600
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Turpin, Beaver County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73950 | $186 | $350 | $729 | $1,209 | $1,861 |
Source: Ownwell