Skiatook, Oklahoma Property Taxes
The median property tax rate in Skiatook, OK is 1.15%, higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $138,479, the typical annual property tax bill in Skiatook reaches $1,600, which is below the national median of $2,690. Property taxes in Skiatook are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Skiatook'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 Skiatook 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
Skiatook, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,593
Ownwell’s Skiatook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Skiatook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Skiatook 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 Skiatook, Oklahoma
Property taxes in Skiatook, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Skiatook is 1.15%, significantly higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Skiatook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Skiatook 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 Skiatook's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74070 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Skiatook 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 Skiatook Tax Rate
1.15%
Average Osage County Tax Rate
1.07%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Skiatook, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74070 | 0.85% | 1.04% | 1.15% | 1.20% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Skiatook, Oklahoma
In Skiatook, 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's office 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 Skiatook, 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 Skiatook is $138,479, with tax bills ranging from $866 at the 25th percentile to $3,649 at the 90th percentile. Interestingly, the highest and lowest median tax bills are both $1,600 in the 74070 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage their tax burden.
Average Skiatook Assessed Value
$138,479
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 Skiatook, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74070 | $36,490 | $84,734 | $138,479 | $226,972 | $311,018 |
Source: Ownwell
Property Tax Bills Across Skiatook, Oklahoma
In Skiatook, located in Osage County, OK, 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 Skiatook is $138,479. Once the assessed value is determined, local tax rates are applied to calculate the annual property tax bill. The tax bill can vary significantly, with the 25th percentile at $866 and the 75th percentile reaching $2,552. At the 90th percentile, homeowners might see bills as high as $3,649. These tax bills are influenced by several factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners, this means that property taxes can represent a significant portion of annual housing costs, impacting overall affordability. Compared to the national median property tax rate of 0.99%, Skiatook's property taxes can be relatively manageable but still vary widely depending on the specific property and its assessed value.
Average Skiatook Tax Bill
$1,600
Average Osage County Tax Bill
$840
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Skiatook, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74070 | $364 | $866 | $1,600 | $2,552 | $3,649 |
Source: Ownwell