Talihina, Le Flore County, Oklahoma Property Taxes
The median property tax rate in Talihina, OK is 0.57%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $68,743 in Talihina, the typical annual property tax bill is $362, significantly below the national median of $2,690. Property taxes in Talihina 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 Talihina'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 Talihina 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
Talihina, Le Flore County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$392
$364
Ownwell’s TALIHINA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TALIHINA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TALIHINA 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 Talihina, Le Flore County, Oklahoma
Property taxes in Talihina, Oklahoma, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Talihina is 0.57%, which is lower than the U.S. national median of 0.99%. Local government entities within Talihina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Talihina 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 Talihina's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74571 zip code has both the highest and lowest median property tax rate of 0.57%. Understanding how these cities compare with Talihina 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 Talihina Tax Rate
0.57%
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 Talihina, Le Flore County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74571 | 0.32% | 0.45% | 0.57% | 0.74% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Talihina, Le Flore County, Oklahoma
In Talihina, 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 Talihina, 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 Talihina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $362, found in the 74571 zip code.
Property Tax Assessment Values Across Talihina, Le Flore County, Oklahoma
Source: Ownwell
$37,334
$67,001
$96,667
Average Talihina Assessed Value
$68,743
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 Talihina, Le Flore County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74571 | $22,032 | $38,220 | $68,743 | $107,903 | $167,622 |
Source: Ownwell
Property Tax Bills Across Talihina, Le Flore County, Oklahoma
In Talihina, located in Le Flore 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 Talihina is $68,743. The tax rate applied to this assessed value determines the tax bill. For example, the tax bill for the 25th percentile is $205, while for the 75th percentile, it is $635. At the 90th percentile, homeowners might see tax bills as high as $1,070. Factors influencing these calculations include the home's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Talihina's rates can be relatively lower, providing some relief to homeowners. However, the financial impact varies widely, depending on the specific assessed value of the property and the applicable tax rate. This system ensures that property taxes are proportionate to property values, affecting homeowners differently based on their property's worth.
Average Talihina Tax Bill
$362
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Talihina, Le Flore County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74571 | $110 | $205 | $362 | $635 | $1,070 |
Source: Ownwell