Beckham County, Oklahoma Property Taxes
The median property tax rate in Beckham County is 0.93%, which is slightly lower than the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $93,844 in Beckham County, the typical annual property tax bill amounts to $783, significantly below the national median of $2,690. Property taxes in Beckham County are determined based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Beckham County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to substantial annual savings. Whether you reside in Elk City or another part of Beckham County, gaining a comprehensive understanding of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beckham County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$873
$810
Ownwell’s Beckham County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Beckham County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Beckham County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property's assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Beckham County, Oklahoma
Property taxes in Beckham County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Beckham County is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Beckham County set these rates annually, and they can vary significantly between different areas within the county. Each year, Beckham County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Beckham County's effective property tax rate with other areas. For comparison, the city of Elk City has one of the higher property tax rates in the region at 1.05%, while the city of Erick boasts one of the lowest at 0.62%. Analyzing how Beckham County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Beckham County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beckham County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carter | 0.23% | 0.47% | 0.73% | 1.04% | 1.16% |
| Elk City | 0.50% | 0.81% | 1.05% | 1.11% | 1.11% |
| Erick | 0.22% | 0.40% | 0.62% | 0.80% | 0.81% |
| Sayre | 0.34% | 0.55% | 0.81% | 0.96% | 0.98% |
| Sweetwater | 0.22% | 0.35% | 0.62% | 0.77% | 0.83% |
| Texola | N/A | N/A | N/A | N/A | N/A |
| Willow | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Beckham County, Oklahoma
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Beckham County, Oklahoma. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Beckham County Appraisal District. The assessed value, however, 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. Assessment notices in Beckham County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For example, the highest median tax bill in Beckham County is $2,140 in Willow, while the lowest is $275 in Erick. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Beckham County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Beckham County Assessed Value
$93,844
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beckham County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carter | $19,759 | $34,266 | $67,666 | $134,160 | $197,094 |
| Elk City | $35,375 | $58,516 | $111,670 | $181,243 | $273,603 |
| Erick | $16,112 | $27,854 | $46,920 | $86,521 | $157,053 |
| Sayre | $22,543 | $35,416 | $68,700 | $134,034 | $215,049 |
| Sweetwater | $40,103 | $62,071 | $114,071 | $174,154 | $213,084 |
| Texola | N/A | N/A | N/A | N/A | N/A |
| Willow | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Beckham County, Oklahoma
In Beckham County, OK, property tax bills are determined by assessing the market value of a property and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the tax bill. Several factors influence this calculation, including property location, size, and any improvements made. For instance, the 25th percentile tax bill in Beckham County is $318, while the 75th percentile reaches $1,586, and the 90th percentile can go up to $2,529. Homeowners in Beckham County experience varying tax burdens based on their property's assessed value. In cities like Willow, the median tax bill can be as high as $2,140, whereas in Erick, it can be as low as $275. This range indicates that property taxes can significantly impact homeowners, potentially influencing their financial planning and property investment decisions. Compared to the national median property tax rate of 0.99%, Beckham County offers a diverse landscape of tax obligations, reflecting the unique characteristics of each property and its location.
Average Beckham County Tax Bill
$783
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Beckham County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Carter | $87 | $197 | $500 | $957 | $1,885 |
| Elk City | $221 | $462 | $1,050 | $1,858 | $2,817 |
| Erick | $49 | $118 | $275 | $549 | $967 |
| Sayre | $107 | $227 | $495 | $1,034 | $1,847 |
| Sweetwater | $96 | $266 | $554 | $1,148 | $1,739 |
| Texola | N/A | N/A | N/A | N/A | N/A |
| Willow | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell