Hastings, Jefferson County, Oklahoma Property Taxes
The median property tax rate in Hastings, OK is 1.02%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Hastings, the typical annual property tax bill reaches $304, significantly lower than the national median of $2,690. Property taxes in Hastings 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 Hastings' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hastings 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
Hastings, Jefferson County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$338
$313
Ownwell’s Hastings Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hastings with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hastings 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 Hastings, Jefferson County, Oklahoma
Property taxes in Hastings, Oklahoma, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Hastings is 0.86%, which is lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Hastings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hastings 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 Hastings' effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73548 zip code has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Hastings provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hastings Tax Rate
1.02%
Average Jefferson County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hastings, Jefferson County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73548 | 0.69% | 0.88% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Hastings, Jefferson County, Oklahoma
In Hastings, 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 Jefferson 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. Assessment notices in Hastings 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. In Hastings, the zip code with the highest median tax bill is 73548, amounting to $304, while the same zip code also has the lowest median tax bill of $304. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hastings, Jefferson County, Oklahoma
Source: Ownwell
$33,098
$53,306
$73,514
Average Hastings Assessed Value
$33,098
Average Jefferson County Assessed Value
$43,058
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hastings, Jefferson County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73548 | $13,610 | $18,643 | $33,098 | $63,480 | $132,975 |
Source: Ownwell
Property Tax Bills Across Hastings, Jefferson County, Oklahoma
In Hastings, Jefferson 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 Hastings is $33,098. Homeowners can expect their property tax bills to vary significantly, influenced by factors such as property characteristics and local tax rates. For instance, the 25th percentile tax bill is $182, while the 75th percentile tax bill is $560, and the 90th percentile tax bill reaches up to $1,260. These variations illustrate how different factors, including property size, location, and improvements, can impact the overall tax burden. The highest and lowest median tax bills in the area are both $304, indicating a relatively narrow range in median tax obligations within specific zip codes. Compared to the national median property tax rate of 0.99%, Hastings homeowners experience a lower tax burden, which can be a significant advantage for residents looking to manage their housing costs effectively.
Average Hastings Tax Bill
$304
Average Jefferson County Tax Bill
$362
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hastings, Jefferson County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73548 | $122 | $182 | $304 | $560 | $1,260 |
Source: Ownwell