Bokoshe, Oklahoma Property Taxes
The median property tax rate in Bokoshe, OK is 0.93%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Bokoshe at $53,000, the typical annual property tax bill is around $445, significantly lower than the national median of $2,690. Property taxes in Bokoshe are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bokoshe'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 Bokoshe or another part of Le Flore County, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Bokoshe, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$493
Ownwell’s Bokoshe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bokoshe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bokoshe 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 Bokoshe, Oklahoma
Property taxes in Bokoshe, Oklahoma, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bokoshe is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Bokoshe set these rates annually, and they can vary across different neighborhoods. Each year, Bokoshe 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 Bokoshe's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74930 has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Bokoshe provides valuable insights into the varying tax landscape across Le Flore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bokoshe Tax Rate
0.93%
Average Le Flore County Tax Rate
0.80%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bokoshe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74930 | 0.60% | 0.78% | 0.93% | 1.01% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Bokoshe, Oklahoma
In Bokoshe, 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 Le Flore 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 Bokoshe, 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 example, the median home price in the area is $53,000. The tax bills in the region can vary significantly, with the 25th percentile at $247, the 75th percentile at $805, and the 90th percentile reaching $1,382. The zip code with the highest and lowest median tax bill is 74930, both at $445. 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 Bokoshe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bokoshe Assessed Value
$53,000
Average Le Flore County Assessed Value
$72,264
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bokoshe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74930 | $19,515 | $30,297 | $53,000 | $90,676 | $154,676 |
Source: Ownwell
Property Tax Bills Across Bokoshe, Oklahoma
In Bokoshe, located in Le Flore County, OK, property tax bills are calculated based on the assessed value of a home. The median home price in the area is $53,000. The tax bill is determined by applying the local tax rate to this assessed value, which can vary depending on the specific district within the county. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. For homeowners in Bokoshe, property tax bills can range significantly. At the 25th percentile, the tax bill is around $247, while at the 75th percentile, it rises to $805. The 90th percentile sees even higher tax bills, reaching up to $1382. The highest median tax bill in the region is $445, found in the zip code 74930. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding how these bills are calculated helps homeowners better manage their finances and anticipate yearly costs.
Average Bokoshe Tax Bill
$445
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Bokoshe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74930 | $143 | $247 | $445 | $805 | $1,382 |
Source: Ownwell