Hanna, Oklahoma Property Taxes
In Hanna, OK, the median property tax rate is 0.71%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Hanna, the typical annual property tax bill reaches $252, significantly below the national median of $2,690. Property taxes in Hanna 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 Hanna's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hanna or another part of McIntosh County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hanna, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$282
Ownwell’s Hanna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hanna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hanna 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 Hanna, Oklahoma
Property taxes in Hanna, Oklahoma, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Hanna is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Hanna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hanna 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 Hanna's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74845 has both the highest and lowest median property tax rate of 0.71%. Understanding how these cities compare with Hanna provides valuable insights into the varying tax landscape across McIntosh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanna Tax Rate
0.71%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanna, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74845 | 0.35% | 0.58% | 0.71% | 0.80% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Hanna, Oklahoma
In Hanna, 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 McIntosh 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 Hanna, 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 Hanna helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74845 has the highest median tax bill of $252, which is also the lowest median tax bill in the area.
Average Hanna Assessed Value
$39,757
Average Mcintosh County Assessed Value
$81,769
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanna, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74845 | $8,900 | $17,916 | $39,757 | $74,718 | $139,574 |
Source: Ownwell
Property Tax Bills Across Hanna, Oklahoma
In Hanna, located in McIntosh County, OK, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county assessor determines this assessed value, and then the local tax rate is applied to calculate the annual property tax bill. For example, with a median home price of $39,757 in Hanna, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Factors such as property improvements, market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. Homeowners in Hanna experience tax bills ranging widely, with the 25th percentile at $126 and the 75th percentile at $564. At the higher end, the 90th percentile tax bill reaches $1,057. Compared to the national median property tax rate of 0.99%, these figures highlight the variability and potential financial impact on homeowners in this region. Understanding these factors is crucial for homeowners to anticipate and manage their annual property tax obligations effectively.
Average Hanna Tax Bill
$252
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanna, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74845 | $61 | $126 | $252 | $564 | $1,057 |
Source: Ownwell