Meeker, Oklahoma Property Taxes
The median property tax rate in Meeker, OK is 0.69%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $104,624 in Meeker, the typical annual property tax bill amounts to $631, which is significantly below the national median of $2,690. Property taxes in Meeker are determined 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. By gaining a thorough understanding of Meeker's property tax system, exploring available exemptions, and identifying potential reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in Meeker or elsewhere in the county, a deeper knowledge of the local property tax structure can lead to considerable financial benefits.
Last Updated June 14, 2024
Meeker, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$722
Ownwell’s Meeker Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meeker with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meeker 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 Meeker, Oklahoma
Property taxes in Meeker, Oklahoma, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Meeker is 0.69%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Meeker set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meeker 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 Meeker's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74855 has both the highest and lowest median property tax rate of 0.69%. Understanding how these areas compare with Meeker provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meeker Tax Rate
0.69%
Average Lincoln County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meeker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74855 | 0.35% | 0.51% | 0.69% | 0.82% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Meeker, Oklahoma
In Meeker, 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 Lincoln 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 Meeker, 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, Meeker's median home price is $104,624, with tax bills ranging from $340 at the 25th percentile to $1,961 at the 90th percentile. The highest and lowest median tax bills are both $631 in the 74855 zip code. By understanding 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 Meeker helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Meeker Assessed Value
$104,624
Average Lincoln County Assessed Value
$92,516
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meeker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74855 | $33,269 | $58,280 | $104,624 | $174,092 | $259,541 |
Source: Ownwell
Property Tax Bills Across Meeker, Oklahoma
In Meeker, located in Lincoln County, OK, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Meeker is $104,624. Homeowners in this region can expect their property tax bills to vary, with the 25th percentile tax bill at $340 and the 75th percentile at $1,240. For those at the 90th percentile, the tax bill can reach up to $1,961. Several factors influence the final tax bill, including the property's assessed value and any applicable exemptions. These tax bills have a direct impact on homeowners, affecting their annual expenses and overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Meeker's property tax rates can be considered moderate, providing a relatively balanced financial environment for homeowners.
Average Meeker Tax Bill
$631
Average Lincoln County Tax Bill
$648
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Meeker, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74855 | $180 | $340 | $631 | $1,240 | $1,961 |
Source: Ownwell