Deer Creek, Oklahoma Property Taxes
The median property tax rate in Deer Creek, OK is 0.59%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Deer Creek, the typical annual property tax bill reaches $406, significantly below the national median of $2,690. Property taxes in Deer Creek are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Deer Creek'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 Deer Creek or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Deer Creek, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$483
-$5,063
Ownwell’s Deer Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deer Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deer Creek 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 Deer Creek, Oklahoma
Property taxes in Deer Creek, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deer Creek is 0.91%, slightly lower than the U.S. national median of 0.99%. Local government entities within Deer Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deer Creek 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 Deer Creek's effective property tax rate to other counties in Oklahoma and the national median. For comparison, 73114 has the highest median property tax rate of 1.21%, while 73131 has the lowest median tax rate of 0.61%. Understanding how these cities compare with Deer Creek provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deer Creek Tax Rate
0.59%
Average Grant County Tax Rate
0.60%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deer Creek, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74636 | 0.19% | 0.37% | 0.59% | 0.80% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Deer Creek, Oklahoma
In Deer Creek, 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 Grant 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 Deer Creek, 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 Deer Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $406.00, found in zip code 74636, while the lowest median tax bill is also $406.00 in the same zip code.
Average Deer Creek Assessed Value
$81,882
Average Grant County Assessed Value
$83,486
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deer Creek, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74636 | $29,018 | $47,751 | $81,882 | $143,402 | $238,850 |
Source: Ownwell
Property Tax Bills Across Deer Creek, Oklahoma
In Deer Creek, located in Grant County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and represents a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Deer Creek, the median home price is $81,882, with tax bills varying widely. For instance, the 25th percentile tax bill is $183, while the 75th percentile tax bill reaches $966. At the higher end, the 90th percentile tax bill can be as much as $1,841. Comparatively, the highest median tax bill in the area is $406, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services like schools, public safety, and infrastructure. Therefore, understanding how these taxes are calculated helps homeowners anticipate their annual expenses and manage their budgets effectively.
Average Deer Creek Tax Bill
$406
Average Grant County Tax Bill
$460
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Deer Creek, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74636 | $86 | $183 | $406 | $966 | $1,841 |
Source: Ownwell