Disney, Oklahoma Property Taxes
The median property tax rate in Disney, OK is 0.78%, 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 Disney at $139,892, the typical annual property tax bill amounts to $1,147, significantly below the national median of $2,690. Property taxes in Disney 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 Disney'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 Disney 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
Disney, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,091
Ownwell’s Disney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Disney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Disney 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 Disney, Oklahoma
Property taxes in Disney, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Disney is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Disney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Disney 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 Disney's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74340 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Disney 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 Disney Tax Rate
0.78%
Average Mayes County Tax Rate
0.66%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Disney, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74340 | 0.37% | 0.55% | 0.78% | 0.91% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Disney, Oklahoma
In Disney, 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's Office 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 Disney, 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 Disney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Disney, zip code 74340, is $1,147, which is significantly lower than the national median property tax rate of 0.99%.
Average Disney Assessed Value
$139,892
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 Disney, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74340 | $35,482 | $66,525 | $139,892 | $452,059 | $598,610 |
Source: Ownwell
Property Tax Bills Across Disney, Oklahoma
In Disney, located in Mayes County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For example, the median home price in Disney is $139,892. Homeowners in this area can expect tax bills to vary significantly, with the 25th percentile at $436 and the 75th percentile at $3,134. The tax bill for the 90th percentile is $5,246, highlighting the range in tax obligations. These property taxes fund essential local services such as schools, public safety, and infrastructure. Therefore, understanding how these taxes are calculated and what influences them is crucial for homeowners to manage their financial planning effectively.
Average Disney Tax Bill
$1,147
Average Mayes County Tax Bill
$998
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Disney, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74340 | $182 | $436 | $1,147 | $3,134 | $5,246 |
Source: Ownwell