Seminole, Oklahoma Property Taxes
The median property tax rate in Seminole, OK is 0.91%, 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 Seminole, the typical annual property tax bill reaches $679, significantly below the national median of $2,690. Property taxes in Seminole 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 Seminole'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 Seminole 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
Seminole, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$676
Ownwell’s Seminole Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Seminole with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seminole 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 Seminole, Oklahoma
Property taxes in Seminole, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seminole is 0.91%, slightly lower than the U.S. national median of 0.99%. Local government entities within Seminole set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seminole 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 Seminole's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74868 zip code has the highest median property tax rate of 0.91%, while the same 74868 zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Seminole provides valuable insights into the varying tax landscape across Seminole County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seminole Tax Rate
0.91%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seminole, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74868 | 0.91% | 0.91% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Seminole, Oklahoma
In Seminole, 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 Appraisal District 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. 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 Seminole helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74868 has the highest and lowest median tax bills, both at $679, illustrating a consistent property tax landscape within the area.
Average Seminole Assessed Value
$74,261
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 Seminole, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74868 | $74,261 | $74,261 | $74,261 | $74,261 | $74,261 |
Source: Ownwell
Property Tax Bills Across Seminole, Oklahoma
In Seminole, located in McIntosh County, OK, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home, which is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $74,261, homeowners in Seminole can expect a tax bill around $679, which is consistent across the 25th, 75th, and 90th percentiles. This uniformity indicates a stable tax environment for property owners. Compared to the national median property tax rate of 0.99%, Seminole offers a relatively predictable tax bill, which can be beneficial for budgeting and financial planning. The local tax rate ensures that homeowners contribute fairly to community services and infrastructure, while the consistent tax bills provide a level of predictability that can make homeownership more manageable and less stressful.
Average Seminole Tax Bill
$679
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Seminole, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74868 | $679 | $679 | $679 | $679 | $679 |
Source: Ownwell