Boynton, Oklahoma Property Taxes
The median property tax rate in Boynton, Oklahoma is 1.05%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Boynton at $122,256, the typical annual property tax bill reaches $1,192, which is below the national median of $2,690. Property taxes in Boynton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Boynton'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 Boynton 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
Boynton, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,284
Ownwell’s Boynton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Boynton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Boynton to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county and is used for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Boynton, Oklahoma
Property taxes in Boynton, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Boynton is 1.05%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Boynton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boynton 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 Boynton's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74422 has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Boynton provides valuable insights into the varying tax landscape across Okmulgee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boynton Tax Rate
1.05%
Average Okmulgee County Tax Rate
0.92%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boynton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74422 | 0.61% | 0.91% | 1.05% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Boynton, Oklahoma
In Boynton, 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 Okmulgee 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 Boynton, 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 Boynton is $122,256, with tax bills ranging from the 25th percentile at $706 to the 90th percentile at $2,715. 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 Boynton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boynton Assessed Value
$122,256
Average Okmulgee County Assessed Value
$63,421
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boynton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74422 | $43,692 | $82,671 | $122,256 | $166,584 | $250,928 |
Source: Ownwell
Property Tax Bills Across Boynton, Oklahoma
In Boynton, property tax bills are calculated based on the assessed value of a home, which is determined by the Okmulgee County Assessor's Office. The assessed value is a percentage of the home's market value, and this value is then multiplied by the local property tax rate to determine the tax bill. For Boynton, the median home price is $122,256. Homeowners in Boynton can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is approximately $706, while the 75th percentile tax bill reaches about $1,832. At the higher end, the 90th percentile tax bill can go up to $2,715. These variations depend on factors such as property location, improvements, and exemptions that may apply. Understanding these calculations is crucial for homeowners as property taxes directly impact their annual expenses. Comparing these figures to the national median property tax rate of 0.99%, Boynton's rates reflect the unique economic landscape of Okmulgee County, influencing both affordability and financial planning for residents.
Average Boynton Tax Bill
$1,192
Average Okmulgee County Tax Bill
$510
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Boynton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74422 | $289 | $706 | $1,192 | $1,832 | $2,715 |
Source: Ownwell