Checotah, Oklahoma Property Taxes
The median property tax rate in Checotah, OK is 0.54%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Checotah at $86,166, the typical annual property tax bill is $345, well below the national median of $2,690. Property taxes in Checotah are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Checotah'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 Checotah 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
Checotah, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$465
-$4,876
Ownwell’s Checotah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Checotah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Checotah 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 Checotah, Oklahoma
Property taxes in Checotah, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Checotah is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Checotah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Checotah 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 Checotah's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74426 zip code has the highest median property tax rate of 0.54%, while the 74426 zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Checotah 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 Checotah Tax Rate
0.54%
Average Muskogee County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Checotah, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74426 | 0.12% | 0.35% | 0.54% | 0.88% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Checotah, Oklahoma
In Checotah, 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 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 Checotah, 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 Checotah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Checotah, both at $345, are found in the 74426 zip code.
Average Checotah Assessed Value
$86,166
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 Checotah, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74426 | $20,053 | $37,523 | $86,166 | $108,812 | $174,762 |
Source: Ownwell
Property Tax Bills Across Checotah, Oklahoma
In Checotah, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Checotah is $86,166. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners in the 25th percentile pay around $268, while those in the 75th percentile pay approximately $471. The top 10% of property tax bills can reach up to $949. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. While the median tax bill in Checotah is $345, which is significantly lower than the national median property tax rate of 0.99%, it still represents a crucial financial consideration for homeowners. Understanding these elements helps residents anticipate their tax obligations and manage their finances effectively.
Average Checotah Tax Bill
$345
Average Muskogee County Tax Bill
$663
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Checotah, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74426 | $87 | $268 | $345 | $471 | $949 |
Source: Ownwell