Sand Springs, Osage County, Oklahoma Property Taxes
The median property tax rate in Sand Springs, OK is 0.93%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Sand Springs, the typical annual property tax bill amounts to $1,356, which is significantly lower than the national median of $2,690. Property taxes in Sand Springs are determined 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 Sand Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sand Springs or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sand Springs, Osage County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,388
$1,288
Ownwell’s Sand Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sand Springs using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sand Springs to estimate your property tax bill. This valuable tool provides a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available by scrolling down. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Sand Springs, Osage County, Oklahoma
Property taxes in Sand Springs, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sand Springs is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Sand Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sand Springs 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 Sand Springs' effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74063 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Sand Springs 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 Sand Springs Tax Rate
0.93%
Average Osage County Tax Rate
1.07%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sand Springs, Osage County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74063 | 0.63% | 0.78% | 0.93% | 1.11% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Sand Springs, Osage County, Oklahoma
In Sand Springs, 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 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 Sand Springs, 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 Sand Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74063 has both the highest and lowest median tax bill, which is $1,356.
Property Tax Assessment Values Across Sand Springs, Osage County, Oklahoma
Source: Ownwell
$28,048
$120,397
$212,746
Average Sand Springs Assessed Value
$149,213
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 Sand Springs, Osage County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74063 | $25,854 | $77,174 | $149,213 | $226,377 | $320,738 |
Source: Ownwell
Property Tax Bills Across Sand Springs, Osage County, Oklahoma
In Sand Springs, Osage County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax rates are then applied to this assessed value to determine the final tax bill. Factors influencing the tax bill include property location, improvements, and any applicable exemptions. For instance, the median home price in Sand Springs is $149,213, with tax bills ranging widely. At the 25th percentile, homeowners might pay around $638, while those at the 75th percentile could see bills as high as $2,193. The top 10% of homeowners face tax bills up to $3,156. These bills can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Sand Springs Tax Bill
$1,356
Average Osage County Tax Bill
$840
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Sand Springs, Osage County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74063 | $204 | $638 | $1,356 | $2,193 | $3,156 |
Source: Ownwell