Boynton, Oklahoma Property Taxes
The median property tax rate in Boynton, OK is 0.58%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $72,600 in Boynton, the typical annual property tax bill is $446, far below the national median of $2,690. Property taxes in Boynton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Boynton'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 Boynton or another part of Muskogee County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boynton, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$421
-$4,413
Ownwell’s Boynton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boynton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boynton 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 Boynton, Oklahoma
Property taxes in Boynton, Oklahoma, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Boynton is 0.58%, significantly lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Boynton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boynton 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 Boynton's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74422 has both the highest and lowest median property tax rate in the county at 0.58%. Understanding how these cities compare with Boynton provides valuable insights into the varying tax landscape across Muskogee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boynton Tax Rate
0.58%
Average Muskogee County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boynton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74422 | 0.15% | 0.38% | 0.58% | 0.82% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Boynton, Oklahoma
In Boynton, 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 Muskogee 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. In Boynton, 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 Boynton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 74422 with $446, while the same zip code also has the lowest median tax bill at $446.
Average Boynton Assessed Value
$72,600
Average Muskogee County Assessed Value
$87,404
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boynton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74422 | $9,353 | $31,586 | $72,600 | $128,738 | $244,304 |
Source: Ownwell
Property Tax Bills Across Boynton, Oklahoma
In Boynton, Muskogee County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For instance, if the median home price is $72,600, the assessed value is determined by local assessment rates. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions or abatements. In Boynton, the tax bills can vary significantly. For example, the 25th percentile tax bill is $101, while the 75th percentile tax bill reaches $821. At the higher end, the 90th percentile tax bill is $1,593. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Comparatively, the highest median tax bill in the region is $446, which is notably lower than the national median property tax rate of 0.99%, making Boynton relatively affordable in terms of property taxes.
Average Boynton Tax Bill
$446
Average Muskogee County Tax Bill
$663
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Boynton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74422 | $25 | $101 | $446 | $821 | $1,593 |
Source: Ownwell