Hitchita, Oklahoma Property Taxes
The median property tax rate in Hitchita, OK is 1.06%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Hitchita at $146,208, the typical annual property tax bill reaches $1,546, which is below the national median of $2,690. Property taxes in Hitchita 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 Hitchita'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 Hitchita 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
Hitchita, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,550
Ownwell’s Hitchita Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hitchita with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hitchita 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 Hitchita, Oklahoma
Property taxes in Hitchita, Oklahoma, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hitchita is 1.06%, which is higher than the U.S. national median of 0.99%. Local government entities within Hitchita set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hitchita 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 Hitchita's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74438 has the highest median property tax rate of 1.06%, while the same zip code 74438 also has the lowest median tax rate of 1.06%. Understanding how these areas compare with Hitchita 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 Hitchita Tax Rate
1.06%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hitchita, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74438 | 1.06% | 1.06% | 1.06% | 1.06% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Hitchita, Oklahoma
In Hitchita, 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 Hitchita, 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 Hitchita helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,546 in the 74438 zip code.
Average Hitchita Assessed Value
$146,208
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 Hitchita, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74438 | $61,641 | $93,353 | $146,208 | $199,062 | $230,774 |
Source: Ownwell
Property Tax Bills Across Hitchita, Oklahoma
In Hitchita, property tax bills are calculated based on the assessed value of a home, which is determined by the McIntosh County assessor's office. The assessed value is a percentage of the property's market value. For example, if the median home price in Hitchita is $146,208, the assessed value would be a fraction of this amount, depending on local assessment ratios. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. The tax rate in McIntosh County can vary but is generally lower than the national median property tax rate of 0.99%. Homeowners in Hitchita can expect to pay between $987 at the 25th percentile and $2,441 at the 90th percentile. The highest median tax bill in the area is $1,546, found in the zip code 74438. These property taxes fund essential local services, such as schools, public safety, and infrastructure, directly impacting the community's quality of life and property values.
Average Hitchita Tax Bill
$1,546
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hitchita, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74438 | $652 | $987 | $1,546 | $2,106 | $2,441 |
Source: Ownwell