Allen, Hughes County, Oklahoma Property Taxes
The median property tax rate in Allen, OK is 0.95%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Allen at $65,674, the typical annual property tax bill amounts to $596, significantly below the national median of $2,690. Property taxes in Allen are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Allen'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 Allen 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
Allen, Hughes County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$624
$579
Ownwell’s Allen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allen 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 Allen, Hughes County, Oklahoma
Property taxes in Allen, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allen is 0.95%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Allen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allen 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 Allen's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74825 zip code has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these cities compare with Allen provides valuable insights into the varying tax landscape across Hughes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allen Tax Rate
0.95%
Average Hughes County Tax Rate
0.85%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allen, Hughes County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74825 | 0.63% | 0.84% | 0.95% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Allen, Hughes County, Oklahoma
In Allen, 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 Hughes 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 Allen, 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 Allen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74825 has both the highest and lowest median tax bill, standing at $596.
Property Tax Assessment Values Across Allen, Hughes County, Oklahoma
Source: Ownwell
$35,803
$71,448
$107,093
Average Allen Assessed Value
$65,674
Average Hughes County Assessed Value
$41,920
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allen, Hughes County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74825 | $19,810 | $40,359 | $65,674 | $114,178 | $179,023 |
Source: Ownwell
Property Tax Bills Across Allen, Hughes County, Oklahoma
In Allen, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, the median home price in Allen is $65,674, and tax bills can vary significantly. Homeowners in the 25th percentile pay around $324, while those in the 75th percentile pay approximately $1,090. At the 90th percentile, tax bills can reach up to $1,837. Comparatively, the highest and lowest median tax bills in the area are both $596, which aligns with the national median property tax rate of 0.99%. These variations in property tax bills can impact homeowners by influencing their overall housing costs and affordability. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Allen Tax Bill
$596
Average Hughes County Tax Bill
$328
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Allen, Hughes County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74825 | $165 | $324 | $596 | $1,090 | $1,837 |
Source: Ownwell