Headrick, Oklahoma Property Taxes
The median property tax rate in Headrick, OK is 0.81%, 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 Headrick at $72,750, the typical annual property tax bill is $493, significantly below the national median of $2,690. Property taxes in Headrick 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 Headrick'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 Headrick 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
Headrick, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$589
Ownwell’s Headrick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Headrick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Headrick 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 Headrick, Oklahoma
Property taxes in Headrick, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Headrick is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Headrick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Headrick 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 Headrick's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73549 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these areas compare with Headrick provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Headrick Tax Rate
0.81%
Average Jackson County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Headrick, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73549 | 0.31% | 0.61% | 0.81% | 0.95% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Headrick, Oklahoma
In Headrick, Oklahoma, understanding the distinction between "market value" and "assessed value" is essential for grasping 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 Jackson 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 Headrick, 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 Headrick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Headrick is $72,750, with the highest and lowest median tax bills both recorded at $493.00 in the 73549 zip code.
Average Headrick Assessed Value
$72,750
Average Jackson County Assessed Value
$62,313
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Headrick, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73549 | $17,880 | $39,209 | $72,750 | $117,273 | $202,509 |
Source: Ownwell
Property Tax Bills Across Headrick, Oklahoma
In Headrick, located in Jackson County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Headrick is $72,750. Property tax rates are applied to this assessed value to determine the annual tax bill. For example, the tax bill at the 25th percentile is $228, while at the 75th percentile, it is $870. Homeowners at the 90th percentile can expect to pay around $1,807. These figures indicate a range of what residents might pay, reflecting differences in property values and assessment levels. Compared to the national median property tax rate of 0.99%, Headrick's property tax rates are relatively moderate. This calculation affects homeowners by determining the amount they must budget annually for property taxes, influencing overall housing affordability. The highest and lowest median tax bills in the area are both $493, indicating some uniformity in tax assessments within specific zip codes.
Average Headrick Tax Bill
$493
Average Jackson County Tax Bill
$496
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Headrick, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73549 | $108 | $228 | $493 | $870 | $1,807 |
Source: Ownwell