Centrahoma, Coal County, Oklahoma Property Taxes
The median property tax rate in Centrahoma, OK is 0.60%, 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 $74,928 in Centrahoma, the typical annual property tax bill comes to $420, significantly below the national median of $2,690. Property taxes in Centrahoma are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding Centrahoma'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 Centrahoma or elsewhere in the city, being well-informed about the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Centrahoma, Coal County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$450
$417
Ownwell's Centrahoma Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Centrahoma effortlessly. By simply inputting your property's estimated assessed value, the calculator uses the median tax rate in Centrahoma to provide an accurate estimate of your property tax bill. This invaluable tool helps you grasp potential tax liabilities with ease. For those keen on exploring trends at a neighborhood level, more localized information is available further down the page. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Centrahoma, Coal County, Oklahoma
Property taxes in Centrahoma, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centrahoma is 0.60%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Centrahoma set these rates annually, and they can vary across different neighborhoods. Each year, Centrahoma 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 Centrahoma's effective property tax rate to other areas in Coal County and the national median. For comparison, the zip code 74534 has both the highest and lowest median property tax rate in the county, standing at 0.60%. Understanding how these areas compare with Centrahoma provides valuable insights into the varying tax landscape across Coal County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centrahoma Tax Rate
0.60%
Average Coal County Tax Rate
0.60%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centrahoma, Coal County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74534 | 0.32% | 0.41% | 0.60% | 0.77% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Centrahoma, Coal County, Oklahoma
In Centrahoma, 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 Coal 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 Centrahoma, 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 Centrahoma is $74,928, with tax bills ranging from $205 at the 25th percentile to $1,884 at the 90th percentile. The highest median tax bill in the area is $420, found in the 74534 zip code, which also has the lowest median tax bill of $420. 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.
Property Tax Assessment Values Across Centrahoma, Coal County, Oklahoma
Source: Ownwell
$42,769
$84,013
$125,256
Average Centrahoma Assessed Value
$74,928
Average Coal County Assessed Value
$69,824
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centrahoma, Coal County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74534 | $18,036 | $42,946 | $74,928 | $134,929 | $236,083 |
Source: Ownwell
Property Tax Bills Across Centrahoma, Coal County, Oklahoma
In Centrahoma, located in Coal County, property tax bills are determined by assessing the market value of a home and then applying the local tax rate. The median home price in Centrahoma is $74,928. Homeowners can expect their property tax bills to vary significantly depending on several factors, including the assessed value of their property and any applicable exemptions. For instance, tax bills in the 25th percentile are around $205, while those in the 75th percentile can reach up to $800. At the 90th percentile, homeowners might see bills as high as $1,884. These variations highlight how property values and local tax rates impact the final tax bill. The median tax bill in the area is $420, which is considerably lower than the national median property tax rate of 0.99%. This relatively low tax burden can be a financial relief for homeowners, making it an attractive aspect of living in Centrahoma.
Average Centrahoma Tax Bill
$420
Average Coal County Tax Bill
$407
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Centrahoma, Coal County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74534 | $92 | $205 | $420 | $800 | $1,884 |
Source: Ownwell