Paden, Oklahoma Property Taxes
The median property tax rate in Paden, OK is 0.86%, 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 $56,796 in Paden, the typical annual property tax bill is $463, significantly below the national median of $2,690. Property taxes in Paden are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Paden'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 Paden or another part of Okfuskee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Paden, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$488
-$5,119
Ownwell’s Paden Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Paden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paden to provide an estimated 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 Okfuskee County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Paden, Oklahoma
Property taxes in Paden, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paden is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Paden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paden 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 Paden's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74860 zip code has both the highest and lowest median property tax rate at 0.86%. Understanding how these cities compare with Paden 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 Paden Tax Rate
0.86%
Average Okfuskee County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Paden, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74860 | 0.63% | 0.75% | 0.86% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Paden, Oklahoma
In Paden, 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 Paden, 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. The median home price in Paden is $56,796, with tax bills ranging from $269 at the 25th percentile to $1,389 at the 90th percentile. The highest and lowest median tax bills, both at $463, are found in the 74860 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Paden Assessed Value
$56,796
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 Paden, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74860 | $21,608 | $33,751 | $56,796 | $94,334 | $157,037 |
Source: Ownwell
Property Tax Bills Across Paden, Oklahoma
Property tax bills in Paden, located in Okfuskee County, OK, are calculated based on the assessed value of the property, which is typically a percentage of the market value. The median home price in Paden is $56,796. Property tax rates are applied to this assessed value to determine the tax bill. In Paden, the median property tax rate is 0.81%, which is lower than the national median of 0.99%. Several factors influence the final tax bill, including property location, market conditions, and local government budgets. For homeowners in Paden, the 25th percentile tax bill is $269, while the 75th percentile tax bill is $816. At the 90th percentile, the tax bill can reach up to $1,389. The highest median tax bill recorded in the area is $463 in the 74860 zip code, which is also the lowest median tax bill, indicating a relatively uniform tax rate across the region. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Paden Tax Bill
$463
Average Okfuskee County Tax Bill
$424
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Paden, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74860 | $160 | $269 | $463 | $816 | $1,389 |
Source: Ownwell