Glencoe, Pawnee County, Oklahoma Property Taxes
The median property tax rate in Glencoe, OK is 1.10%, which is significantly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Glencoe at $73,594, the typical annual property tax bill amounts to $772, surpassing the national median of $2,690. Property taxes in Glencoe are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Glencoe'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 Glencoe or another part of Pawnee County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glencoe, Pawnee County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$810
$751
Ownwell’s Glencoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glencoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glencoe 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 Glencoe, Pawnee County, Oklahoma
Property taxes in Glencoe, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glencoe is 1.10%, higher than the U.S. national median of 0.99%. Local government entities within Glencoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glencoe 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 Glencoe's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74032 has both the highest and lowest median property tax rate of 1.10%. Understanding how these areas compare with Glencoe provides valuable insights into the varying tax landscape across Pawnee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glencoe Tax Rate
1.10%
Average Pawnee County Tax Rate
0.99%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glencoe, Pawnee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74032 | 0.70% | 0.97% | 1.10% | 1.14% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Glencoe, Pawnee County, Oklahoma
In Glencoe, 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 Pawnee 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 Glencoe, 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 Glencoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 74032, with a median tax bill of $772.
Property Tax Assessment Values Across Glencoe, Pawnee County, Oklahoma
Source: Ownwell
$27,950
$55,701
$83,452
Average Glencoe Assessed Value
$73,594
Average Pawnee County Assessed Value
$70,521
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glencoe, Pawnee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74032 | $34,772 | $49,210 | $73,594 | $103,548 | $203,720 |
Source: Ownwell
Property Tax Bills Across Glencoe, Pawnee County, Oklahoma
In Glencoe, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Various factors, such as the property's location, size, and condition, influence this assessed value. For homeowners in Glencoe, the median home price is $73,594. The property tax rate in Pawnee County, where Glencoe is located, results in a median tax bill of $772. This is lower than the national median property tax rate of 0.99%. Homeowners in Glencoe can expect their tax bills to vary. At the 25th percentile, the tax bill is around $420, while at the 75th percentile, it rises to $1,116. For those at the 90th percentile, the tax bill can reach up to $2,248. These taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life in the community.
Average Glencoe Tax Bill
$772
Average Pawnee County Tax Bill
$656
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Glencoe, Pawnee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74032 | $222 | $420 | $772 | $1,116 | $2,248 |
Source: Ownwell