Thackerville, Oklahoma Property Taxes
The median property tax rate in Thackerville, OK is 0.94%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Thackerville at $92,004, the typical annual property tax bill is approximately $758, significantly lower than the national median of $2,690. Property taxes in Thackerville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Thackerville'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 Thackerville or another part of Love County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thackerville, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$865
Ownwell’s Thackerville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Thackerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thackerville to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities clearly. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Love County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Thackerville, Oklahoma
Property taxes in Thackerville, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thackerville is 0.94%, slightly lower than the U.S. national median of 0.99%. Local government entities within Thackerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thackerville 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 Thackerville's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73459 has both the highest and lowest median property tax rate of 0.94%. Understanding how these areas compare with Thackerville provides valuable insights into the varying tax landscape across Love County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thackerville Tax Rate
0.94%
Average Love County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thackerville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73459 | 0.51% | 0.78% | 0.94% | 1.05% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Thackerville, Oklahoma
In Thackerville, 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 Love 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 Thackerville, 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 Thackerville is $92,004, with tax bills ranging from $405 at the 25th percentile to $2,586 at the 90th percentile. The highest and lowest median tax bills are both $758, found in the 73459 zip code. 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 Thackerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thackerville Assessed Value
$92,004
Average Love County Assessed Value
$84,103
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thackerville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73459 | $27,074 | $48,314 | $92,004 | $169,067 | $253,744 |
Source: Ownwell
Property Tax Bills Across Thackerville, Oklahoma
In Thackerville, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $92,004, the assessed value is calculated, and then the local tax rate is applied. Homeowners in Thackerville can expect tax bills that vary significantly; the 25th percentile tax bill is around $405, while the 75th percentile reaches $1,627. Those at the 90th percentile see tax bills as high as $2,586. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Thackerville's rates can be seen as relatively moderate, providing some relief to homeowners. However, the impact on homeowners can be substantial, particularly for those at the higher end of the spectrum. Understanding these factors helps homeowners better anticipate their financial responsibilities and plan accordingly.
Average Thackerville Tax Bill
$758
Average Love County Tax Bill
$778
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Thackerville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73459 | $206 | $405 | $758 | $1,627 | $2,586 |
Source: Ownwell