Jones, Oklahoma Property Taxes
The median property tax rate in Jones, OK is 0.95%, slightly lower than the state median of 0.97% and the national median of 0.99%. With a median home value of $216,000 in Jones, the typical annual property tax bill amounts to $1,848, which is notably below the national median of $2,690. Property taxes in Jones are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Jones'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 Jones or elsewhere in Oklahoma County, grasping the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Jones, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$2,052
Ownwell’s JONES Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in JONES with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in JONES 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 Jones, Oklahoma
Property taxes in Jones, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jones is 0.95%, slightly lower than the U.S. national median of 0.99%. Local government entities within Jones set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jones 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 Jones' effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73049 zip code has the same median property tax rate of 0.95%. Understanding how these cities compare with Jones 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 Jones Tax Rate
0.95%
Average Oklahoma County Tax Rate
1.00%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jones, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73049 | 0.58% | 0.79% | 0.95% | 1.14% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Jones, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Jones, Oklahoma. 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 Appraisal District 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 Jones, 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. Jones homeowners experience a range of property tax bills, with the 25th percentile at $808 and the 75th percentile at $4003. The highest median tax bill in the area is $1848 in the 73049 zip code. 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 Jones helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jones Assessed Value
$216,000
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 Jones, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73049 | $54,442 | $104,824 | $216,000 | $402,500 | $738,800 |
Source: Ownwell
Property Tax Bills Across Jones, Oklahoma
In JONES, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is typically a percentage of the home's market value, reflecting local property values. Homeowners in JONES can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $808, while the 75th percentile reaches $4,003, and the 90th percentile can be as high as $7,275. Compared to the national median property tax rate of 0.99%, JONES offers a range of tax bills depending on the specific property and location. The highest median tax bill recorded in the area is $1,848, found in the 73049 zip code. These varying tax rates directly impact homeowners by influencing their annual financial obligations and potentially affecting their overall budget and financial planning. Understanding these factors is crucial for homeowners to anticipate their property tax responsibilities accurately.
Average Jones Tax Bill
$1,848
Average Oklahoma County Tax Bill
$1,891
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Jones, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73049 | $403 | $808 | $1,848 | $4,003 | $7,275 |
Source: Ownwell