Slick, Oklahoma Property Taxes
The median property tax rate in Slick, OK is 0.54%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $41,797 in Slick, the typical annual property tax bill is $224, considerably below the national median of $2,690. Property taxes in Slick are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Slick'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 Slick or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Slick, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$226
Ownwell’s Slick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Slick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Slick 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 Slick, Oklahoma
Property taxes in Slick, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Slick is 0.54%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Slick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Slick 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 Slick's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74071 has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with Slick provides valuable insights into the varying tax landscape across Creek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Slick Tax Rate
0.54%
Average Creek County Tax Rate
0.88%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Slick, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74071 | 0.30% | 0.42% | 0.54% | 0.64% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Slick, Oklahoma
In Slick, 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 Creek County Appraisal District 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 Slick, 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 Slick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74071 in Slick has both the highest and lowest median tax bill, standing at $224.
Average Slick Assessed Value
$41,797
Average Creek County Assessed Value
$130,263
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Slick, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74071 | $38,736 | $41,369 | $41,797 | $44,762 | $67,504 |
Source: Ownwell
Property Tax Bills Across Slick, Oklahoma
In Slick, Creek County, OK, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. For instance, the median home price in Slick is $41,797, which helps determine the tax bill. Homeowners in Slick typically see a tax bill around the 25th percentile at $191 and around the 75th percentile at $244, with the 90th percentile reaching up to $294. This range indicates how different property values can affect the tax burden. Compared to the national median property tax rate of 0.99%, Slick's property taxes are relatively low, making it an appealing location for homeowners looking for affordable property taxes. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations and manage their finances effectively.
Average Slick Tax Bill
$224
Average Creek County Tax Bill
$1,080
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Slick, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74071 | $174 | $191 | $224 | $244 | $294 |
Source: Ownwell