Copan, Osage County, Oklahoma Property Taxes
The median property tax rate in Copan, OK is 0.76%, 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 $151,847 in Copan, the typical annual property tax bill is around $834, significantly below the national median of $2,690. Property taxes in Copan are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Copan's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Copan or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Copan, Osage County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,154
$1,071
Ownwell’s Copan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Copan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Copan 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 Copan, Osage County, Oklahoma
Property taxes in Copan, Oklahoma, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Copan is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Copan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Copan 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 Copan's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 74022 zip code has the highest median property tax rate of 0.76%, while the same zip code also records the lowest median tax rate of 0.76%. Understanding how these areas compare with Copan provides valuable insights into the varying tax landscape across Osage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Copan Tax Rate
0.76%
Average Osage County Tax Rate
1.07%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Copan, Osage County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74022 | 0.42% | 0.63% | 0.76% | 0.88% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Copan, Osage County, Oklahoma
In Copan, 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 Osage 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 Copan, 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 Copan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $834 in the 74022 zip code, while the lowest is also $834 in the same zip code, highlighting a consistent tax landscape.
Property Tax Assessment Values Across Copan, Osage County, Oklahoma
Source: Ownwell
$28,048
$120,397
$212,746
Average Copan Assessed Value
$151,847
Average Osage County Assessed Value
$85,955
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Copan, Osage County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74022 | $43,374 | $54,249 | $151,847 | $201,284 | $269,870 |
Source: Ownwell
Property Tax Bills Across Copan, Osage County, Oklahoma
In Copan, located in Osage County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For homeowners, this means that a higher market value or fewer exemptions can lead to a higher tax bill. In Copan, the median home price is $151,847, and tax bills can vary significantly. For instance, the 25th percentile tax bill is $326, while the 75th percentile tax bill is $1,498. At the 90th percentile, tax bills can reach up to $2,725. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how these factors combine to affect their annual tax obligations.
Average Copan Tax Bill
$834
Average Osage County Tax Bill
$840
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Copan, Osage County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74022 | $61 | $326 | $834 | $1,498 | $2,725 |
Source: Ownwell