Okarche, Canadian County, Oklahoma Property Taxes
The median property tax rate in Okarche, Oklahoma is 0.72%, 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 Okarche at $173,920, the typical annual property tax bill amounts to $1,106, falling well below the national median of $2,690. Property taxes in Okarche are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, including those for primary residences and agricultural land. Understanding Okarche'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 Okarche or another part of Canadian County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Okarche, Canadian County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,252
$1,162
Ownwell’s Okarche Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Okarche with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Okarche 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 Okarche, Canadian County, Oklahoma
Property taxes in Okarche, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Okarche is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Okarche set these rates annually, and they can vary significantly across different neighborhoods. Each year, Okarche 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 Okarche's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73762 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Okarche provides valuable insights into the varying tax landscape across Canadian County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Okarche Tax Rate
0.72%
Average Canadian County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Okarche, Canadian County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73762 | 0.51% | 0.61% | 0.72% | 0.80% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Okarche, Canadian County, Oklahoma
In Okarche, 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 Canadian County Assessor's Office 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 Okarche, 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 Okarche helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1106, found in the 73762 zip code.
Property Tax Assessment Values Across Okarche, Canadian County, Oklahoma
Source: Ownwell
$42,891
$180,777
$318,662
Average Okarche Assessed Value
$173,920
Average Canadian County Assessed Value
$228,594
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Okarche, Canadian County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73762 | $60,540 | $93,424 | $173,920 | $258,616 | $364,903 |
Source: Ownwell
Property Tax Bills Across Okarche, Canadian County, Oklahoma
In Okarche, located in Canadian County, OK, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Okarche is $173,920. To determine the tax bill, the assessed value is multiplied by the local tax rate. Various factors, including property improvements, location, and market trends, influence the assessed value. Homeowners in Okarche can expect their tax bills to range significantly. For instance, the 25th percentile tax bill is $601, while the 75th percentile reaches up to $1,922, and the 90th percentile can be as high as $2,743. The median property tax bill in the area is $1,106, which is relatively low compared to the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in Okarche.
Average Okarche Tax Bill
$1,106
Average Canadian County Tax Bill
$2,244
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Okarche, Canadian County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73762 | $366 | $601 | $1,106 | $1,922 | $2,743 |
Source: Ownwell