Bristow, Oklahoma Property Taxes
The median property tax rate in Bristow, OK is 0.76%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $62,370 in Bristow, the typical annual property tax bill amounts to $473, significantly below the national median of $2,690. Property taxes in Bristow are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Bristow'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 Bristow 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
Bristow, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$474
-$4,968
Ownwell’s Bristow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bristow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bristow 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 Bristow, Oklahoma
Property taxes in Bristow, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bristow is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Bristow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bristow 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 Bristow's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74010 has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Bristow provides valuable insights into the varying tax landscape across Okfuskee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bristow Tax Rate
0.76%
Average Okfuskee County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bristow, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74010 | 0.59% | 0.70% | 0.76% | 0.76% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Bristow, Oklahoma
In Bristow, 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 Okfuskee 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 Bristow, 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 Bristow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bristow is $62,370, with property tax bills ranging from $298 at the 25th percentile to $1,108 at the 90th percentile. Notably, the zip code 74010 has the highest median tax bill of $473, as well as the lowest.
Average Bristow Assessed Value
$62,370
Average Okfuskee County Assessed Value
$65,362
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bristow, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74010 | $38,699 | $42,039 | $62,370 | $81,368 | $124,773 |
Source: Ownwell
Property Tax Bills Across Bristow, Oklahoma
In Bristow, located in Okfuskee County, OK, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in this area is $62,370. Property taxes are determined by multiplying the assessed value by the local tax rate. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For homeowners, the property tax bill can vary significantly. In Bristow, the 25th percentile tax bill is $298, while the 75th percentile tax bill reaches $635. At the 90th percentile, homeowners might pay as much as $1,108. The highest and lowest median tax bills in the area are both $473, found in the 74010 zip code. Comparatively, the national median property tax rate stands at 0.99%, making Bristow's property tax rates relatively manageable for homeowners. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Bristow Tax Bill
$473
Average Okfuskee County Tax Bill
$424
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Bristow, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74010 | $245 | $298 | $473 | $635 | $1,108 |
Source: Ownwell