Pawnee, Oklahoma Property Taxes
The median property tax rate in Pawnee, OK is 1.18%, higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Pawnee at $89,997, the typical annual property tax bill reaches $1,058, exceeding the national median of $2,690. Property taxes in Pawnee 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 Pawnee'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 Pawnee 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
Pawnee, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$1,062
-$11,129
Ownwell’s Pawnee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pawnee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pawnee 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 Pawnee, Oklahoma
Property taxes in Pawnee, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pawnee is 0.75%, lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Pawnee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pawnee 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 Pawnee's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74058 zip code has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these areas compare with Pawnee provides valuable insights into the varying tax landscape across Pawnee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pawnee Tax Rate
1.18%
Average Noble County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pawnee, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74058 | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Pawnee, Oklahoma
In Pawnee, 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 Noble 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 Pawnee, 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 Pawnee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 74058, both at $1058.
Average Pawnee Assessed Value
$89,997
Average Noble County Assessed Value
$78,656
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pawnee, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74058 | $89,997 | $89,997 | $89,997 | $89,997 | $89,997 |
Source: Ownwell
Property Tax Bills Across Pawnee, Oklahoma
Property tax bills in Pawnee, located in Noble County, OK, are calculated based on the assessed value of a property. This assessed value is determined by the county assessor and is a percentage of the property's market value. In Pawnee, the median home price is $89,997. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. For example, the median property tax bill in Pawnee is $1,058, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including property size, location, and any applicable exemptions or deductions. High property tax bills can significantly impact homeowners by increasing their annual financial obligations. In Pawnee, the tax bills at the 25th, 75th, and 90th percentiles are all $1,058, indicating a consistent tax rate across different property values. This consistency helps homeowners predict their financial responsibilities more accurately.
Average Pawnee Tax Bill
$1,058
Average Noble County Tax Bill
$666
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Pawnee, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74058 | $1,058 | $1,058 | $1,058 | $1,058 | $1,058 |
Source: Ownwell