Okmulgee, Okmulgee County, Oklahoma Property Taxes
The median property tax rate in Okmulgee, OK is 0.95%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Okmulgee at $49,987, the typical annual property tax bill reaches $411, significantly below the national median of $2,690. Property taxes in Okmulgee are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Okmulgee'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 Okmulgee 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
Okmulgee, Okmulgee County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$475
$441
Ownwell’s Okmulgee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Okmulgee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Okmulgee 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 Okmulgee, Okmulgee County, Oklahoma
Property taxes in Okmulgee, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Okmulgee is 0.95%, slightly lower than the U.S. national median of 0.99%. Local government entities within Okmulgee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Okmulgee 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 Okmulgee's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74447 has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Okmulgee 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 Okmulgee Tax Rate
0.95%
Average Okmulgee County Tax Rate
0.92%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Okmulgee, Okmulgee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74447 | 0.48% | 0.72% | 0.95% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Okmulgee, Okmulgee County, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Okmulgee, 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 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 Okmulgee, 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. For instance, the median home price in Okmulgee is $49,987, with tax bills ranging from $227 at the 25th percentile to $1,433 at the 90th percentile. The zip code 74447 has the highest median tax bill at $411. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Okmulgee, Okmulgee County, Oklahoma
Source: Ownwell
$33,277
$77,767
$122,256
Average Okmulgee Assessed Value
$49,987
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 Okmulgee, Okmulgee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74447 | $18,349 | $27,765 | $49,987 | $94,461 | $154,974 |
Source: Ownwell
Property Tax Bills Across Okmulgee, Okmulgee County, Oklahoma
In Okmulgee, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Okmulgee is $49,987. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including property location, improvements, and local tax rates. For instance, the 25th percentile tax bill is $227, while the 75th percentile tax bill is $834, and the 90th percentile tax bill reaches $1,433. These tax bills can significantly impact homeowners, affecting their overall housing costs. Homeowners in Okmulgee with properties in the zip code 74447 experience a median tax bill of $411, which is considerably lower than the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual expenses and budget accordingly.
Average Okmulgee Tax Bill
$411
Average Okmulgee County Tax Bill
$510
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Okmulgee, Okmulgee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74447 | $132 | $227 | $411 | $834 | $1,433 |
Source: Ownwell