Roosevelt, Oklahoma Property Taxes
The median property tax rate in Roosevelt, OK is 0.88%, slightly below the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Roosevelt, the typical annual property tax bill is $315, which is significantly lower than the national median of $2,690. Property taxes in Roosevelt are calculated 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. Understanding Roosevelt'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 Roosevelt 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
Roosevelt, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$339
Ownwell’s Roosevelt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Roosevelt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Roosevelt 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 Roosevelt, Oklahoma
Property taxes in Roosevelt, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Roosevelt is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Roosevelt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Roosevelt 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 Roosevelt's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73564 has both the highest and lowest median property tax rate in Kiowa County, standing at 0.88%. Understanding how these cities compare with Roosevelt provides valuable insights into the varying tax landscape across Kiowa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Roosevelt Tax Rate
0.88%
Average Kiowa County Tax Rate
0.85%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Roosevelt, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73564 | 0.48% | 0.68% | 0.88% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Roosevelt, Oklahoma
In Roosevelt, Oklahoma, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 local 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. In Roosevelt, 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 Roosevelt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price stands at $38,524, with tax bills ranging from $116 at the 25th percentile to $1,112 at the 90th percentile. The zip code 73564 has both the highest and lowest median tax bill at $315.
Average Roosevelt Assessed Value
$38,524
Average Kiowa County Assessed Value
$46,198
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Roosevelt, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73564 | $6,268 | $17,430 | $38,524 | $77,810 | $126,902 |
Source: Ownwell
Property Tax Bills Across Roosevelt, Oklahoma
In Roosevelt, located in Kiowa County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Roosevelt is $38,524. The property tax rate is applied to this assessed value to determine the annual tax bill. For instance, homeowners in the 25th percentile pay around $116, while those in the 75th percentile see bills closer to $665. At the 90th percentile, tax bills can reach up to $1,112. The highest and lowest median tax bills in the area are both $315, reflecting the uniformity within the zip code 73564. Various factors influence these tax bills, including changes in property values and local government budgets. While the national median property tax rate is 0.99%, local rates can vary, impacting homeowners differently. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average Roosevelt Tax Bill
$315
Average Kiowa County Tax Bill
$368
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Roosevelt, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73564 | $49 | $116 | $315 | $665 | $1,112 |
Source: Ownwell