Okarche, Oklahoma Property Taxes
The median property tax rate in Okarche, OK is 0.77%, notably lower than both the national median of 0.99% and Oklahoma's state median of 0.97%. With the median home value in Okarche at $192,882, the typical annual property tax bill amounts to $1,329, which is significantly below the national median of $2,690. Property taxes in Okarche are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Okarche's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Okarche or another part of Kingfisher County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Okarche, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,485
Ownwell’s Okarche Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Okarche with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Okarche 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 Okarche, Oklahoma
Property taxes in Okarche, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Okarche is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Okarche set these rates annually, and they can vary significantly across different neighborhoods. Each year, Okarche 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 Okarche's effective property tax rate to other areas in Kingfisher County and the national median. For comparison, the zip code 73762 has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with Okarche provides valuable insights into the varying tax landscape across Kingfisher County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Okarche Tax Rate
0.77%
Average Kingfisher County Tax Rate
0.84%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Okarche, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73762 | 0.43% | 0.56% | 0.77% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Okarche, Oklahoma
In Okarche, 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 Kingfisher 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 Okarche, 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. For instance, the median home price in Okarche is $192,882, with tax bills ranging from $901 at the 25th percentile to $3,160 at the 90th percentile. The highest and lowest median tax bills are both $1,329 in zip code 73762. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Okarche Assessed Value
$192,882
Average Kingfisher County Assessed Value
$150,533
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Okarche, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73762 | $95,026 | $137,941 | $192,882 | $287,996 | $448,071 |
Source: Ownwell
Property Tax Bills Across Okarche, Oklahoma
In Okarche, located in Kingfisher County, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $192,882, homeowners can expect tax bills ranging significantly depending on various factors. The 25th percentile tax bill is around $901, while those at the 75th percentile might pay approximately $2,092. At the higher end, the 90th percentile tax bill reaches up to $3,160. These figures highlight the variability in property tax bills within the area, influenced by the home's assessed value and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, homeowners in Okarche experience a diverse range of tax obligations, impacting their overall financial planning and budgeting.
Average Okarche Tax Bill
$1,329
Average Kingfisher County Tax Bill
$1,129
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Okarche, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73762 | $553 | $901 | $1,329 | $2,092 | $3,160 |
Source: Ownwell