Harrah, Oklahoma County, Oklahoma Property Taxes
The median property tax rate in Harrah, OK is 0.83%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $209,500 in Harrah, the typical annual property tax bill amounts to $1,712, falling below the national median of $2,690. Property taxes in Harrah are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Harrah'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 Harrah 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
Harrah, Oklahoma County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,739
$1,614
Ownwell’s Harrah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrah 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 Harrah, Oklahoma County, Oklahoma
Property taxes in Harrah, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrah is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Harrah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrah 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 Harrah's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73045 has both the highest and lowest median property tax rate of 0.83%. Understanding how these areas compare with Harrah provides valuable insights into the varying tax landscape across Oklahoma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrah Tax Rate
0.83%
Average Oklahoma County Tax Rate
1.00%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrah, Oklahoma County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73045 | 0.57% | 0.73% | 0.83% | 0.95% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Harrah, Oklahoma County, Oklahoma
In Harrah, 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 Oklahoma 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 Harrah, 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 Harrah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Harrah are both $1,712, found in the 73045 zip code, highlighting the consistency in tax assessments within the area.
Property Tax Assessment Values Across Harrah, Oklahoma County, Oklahoma
Source: Ownwell
$64,500
$428,500
$792,500
Average Harrah Assessed Value
$209,500
Average Oklahoma County Assessed Value
$192,500
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrah, Oklahoma County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73045 | $79,501 | $140,500 | $209,500 | $277,250 | $361,000 |
Source: Ownwell
Property Tax Bills Across Harrah, Oklahoma County, Oklahoma
In Harrah, Oklahoma, property tax bills are calculated based on the assessed value of a property, which is determined by the local county assessor. This assessed value is typically a percentage of the property's market value. For example, if the median home price in Harrah is $209,500, the assessed value would be a fraction of this amount. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property’s location, any applicable exemptions, and local levy rates. In Harrah, the median property tax bill ranges from $1,065 at the 25th percentile to $3,059 at the 90th percentile. This variation indicates that property taxes can significantly impact homeowners, particularly those with higher-valued homes. Compared to the national median property tax rate of 0.99%, Harrah's property tax bills reflect a localized approach that can vary widely even within the same county. This system ensures that property taxes are proportionate to the value and use of the property.
Average Harrah Tax Bill
$1,712
Average Oklahoma County Tax Bill
$1,891
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrah, Oklahoma County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73045 | $579 | $1,065 | $1,712 | $2,337 | $3,059 |
Source: Ownwell