Sasakwa, Oklahoma Property Taxes
The median property tax rate in Sasakwa, OK is 0.75%, 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 Sasakwa at $52,634, the typical annual property tax bill is $366, significantly below the national median of $2,690. Property taxes in Sasakwa are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Sasakwa's property tax system and exploring available exemptions, homeowners and real estate investors can discover opportunities for substantial annual savings. Whether residing in Sasakwa or another part of the city, gaining insight into the local property tax system can result in considerable financial benefits.
Last Updated June 14, 2024
Sasakwa, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$395
Ownwell’s Sasakwa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sasakwa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sasakwa 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 Sasakwa, Oklahoma
Property taxes in Sasakwa, Oklahoma, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Sasakwa is 0.75%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Sasakwa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sasakwa 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 Sasakwa's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 74867 zip code has the highest median property tax rate in the region at 0.75%, while the same zip code also represents the lowest median tax rate at 0.75%. Understanding how these areas compare with Sasakwa 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 Sasakwa Tax Rate
0.75%
Average Hughes County Tax Rate
0.85%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sasakwa, Oklahoma
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
74867 | 0.62% | 0.68% | 0.75% | 0.81% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Sasakwa, Oklahoma
In Sasakwa, 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 Sasakwa, 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 Sasakwa 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 $366.00, found in the 74867 zip code.
Average Sasakwa Assessed Value
$52,634
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 Sasakwa, Oklahoma
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
74867 | $40,898 | $45,648 | $52,634 | $71,180 | $96,739 |
Source: Ownwell
Property Tax Bills Across Sasakwa, Oklahoma
Property tax bills in Sasakwa, located in Hughes County, OK, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Sasakwa is $52,634. The property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and local government budgets can influence the assessed value and, subsequently, the tax bill. Homeowners in Sasakwa can expect their tax bills to vary. For instance, those in the 25th percentile pay around $278 annually, while those in the 75th percentile pay approximately $582. The tax bill for homeowners in the 90th percentile can reach up to $822. Despite these variations, the highest and lowest median tax bills in the area are both $366, reflecting a relatively consistent rate within the zip code 74867. Compared to the national median property tax rate of 0.99%, Sasakwa's rates offer a more affordable option for homeowners.
Average Sasakwa Tax Bill
$366
Average Hughes County Tax Bill
$328
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Sasakwa, Oklahoma
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
74867 | $272 | $278 | $366 | $582 | $822 |
Source: Ownwell