Hodgen, Oklahoma Property Taxes
The median property tax rate in Hodgen, OK is 0.59%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $83,206 in Hodgen, the typical annual property tax bill is $467, well below the national median of $2,690. Property taxes in Hodgen are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hodgen'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 Hodgen or another part of Le Flore County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hodgen, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$491
Ownwell’s Hodgen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hodgen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hodgen 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 Hodgen, Oklahoma
Property taxes in Hodgen, Oklahoma are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hodgen is 0.59%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Hodgen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hodgen 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 Hodgen's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74939 has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Hodgen 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 Hodgen Tax Rate
0.59%
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 Hodgen, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74939 | 0.30% | 0.45% | 0.59% | 0.76% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Hodgen, Oklahoma
In Hodgen, 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 Hodgen, 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 Hodgen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Hodgen is $467, with the highest and lowest median tax bills both occurring in the 74939 zip code.
Average Hodgen Assessed Value
$83,206
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 Hodgen, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74939 | $30,104 | $48,078 | $83,206 | $127,652 | $183,964 |
Source: Ownwell
Property Tax Bills Across Hodgen, Oklahoma
In Hodgen, Le Flore County, OK, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Hodgen is $83,206. The tax rate in this area is compared to the national median property tax rate of 0.99%. Property tax bills can vary significantly, with the 25th percentile tax bill being $242 and the 75th percentile reaching $812. For those at the 90th percentile, the tax bill can be as high as $1,334. Several factors influence the final tax bill, including the property's assessed value and any exemptions the homeowner may qualify for. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners in Hodgen must budget for these annual expenses, which can fluctuate based on changes in property values and local tax rates. Understanding these factors can help homeowners anticipate their financial obligations more accurately.
Average Hodgen Tax Bill
$467
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hodgen, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74939 | $142 | $242 | $467 | $812 | $1,334 |
Source: Ownwell