Big Cabin, Mayes County, Oklahoma Property Taxes
The median property tax rate in Big Cabin, OK is 0.72%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Big Cabin, the typical annual property tax bill reaches $1,018, falling below the national median of $2,690. Property taxes in Big Cabin are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Big Cabin'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 Big Cabin 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
Big Cabin, Mayes County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,125
$1,044
Ownwell’s Big Cabin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Cabin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Cabin 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 Big Cabin, Mayes County, Oklahoma
Property taxes in Big Cabin, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Cabin is 0.72%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Big Cabin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Cabin 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 Big Cabin's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74332 zip code has both the highest and the lowest median property tax rate of 0.72%. Understanding how these cities compare with Big Cabin provides valuable insights into the varying tax landscape across Mayes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Cabin Tax Rate
0.72%
Average Mayes County Tax Rate
0.66%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Cabin, Mayes County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74332 | 0.41% | 0.56% | 0.72% | 0.92% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Big Cabin, Mayes County, Oklahoma
In Big Cabin, 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 Mayes 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 Big Cabin, 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 Big Cabin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Big Cabin is $1018 in the zip code 74332.
Property Tax Assessment Values Across Big Cabin, Mayes County, Oklahoma
Source: Ownwell
$63,166
$311,123
$559,080
Average Big Cabin Assessed Value
$156,194
Average Mayes County Assessed Value
$160,424
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Big Cabin, Mayes County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74332 | $49,633 | $93,027 | $156,194 | $244,596 | $352,736 |
Source: Ownwell
Property Tax Bills Across Big Cabin, Mayes County, Oklahoma
In Big Cabin, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value, influenced by factors such as property size, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Homeowners in Big Cabin can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $574, while the 75th percentile reaches $1,714. At the higher end, the 90th percentile tax bill can be as much as $2,955. These figures highlight the range of property tax obligations within the area. Comparatively, the median property tax bill in Big Cabin is $1,018, which aligns with the national median property tax rate of 0.99%. This ensures that homeowners contribute fairly to local services and infrastructure, reflecting the economic and social benefits of their community.
Average Big Cabin Tax Bill
$1,018
Average Mayes County Tax Bill
$998
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Cabin, Mayes County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74332 | $342 | $574 | $1,018 | $1,714 | $2,955 |
Source: Ownwell