Hallett, Oklahoma Property Taxes
The median property tax rate in Hallett, OK is 0.65%, lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Hallett at $30,806, the typical annual property tax bill is $232, significantly below the national median of $2,690. Property taxes in Hallett are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hallett'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 Hallett 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
Hallett, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$200
Ownwell’s Hallett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hallett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hallett 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 Hallett, Oklahoma
Property taxes in Hallett, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hallett is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Hallett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hallett 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 Hallett's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74034 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Hallett 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 Hallett Tax Rate
0.65%
Average Pawnee County Tax Rate
0.99%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hallett, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74034 | 0.13% | 0.45% | 0.65% | 0.87% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Hallett, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hallett, 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 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 Hallett, 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 Hallett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hallett is $30,806, with tax bills ranging from $88 at the 25th percentile to $707 at the 90th percentile. The zip code 74034 has both the highest and lowest median tax bill at $232.
Average Hallett Assessed Value
$30,806
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 Hallett, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74034 | $13,918 | $20,022 | $30,806 | $59,711 | $93,305 |
Source: Ownwell
Property Tax Bills Across Hallett, Oklahoma
In Hallett, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the home's location within Pawnee County, its size, and any applicable exemptions. For instance, the median home price in Hallett is $30,806. Homeowners in the 25th percentile can expect a tax bill around $88, while those in the 75th percentile might see a bill closer to $376. At the 90th percentile, the tax bill can reach up to $707. This range illustrates how property taxes can vary significantly based on property value and location. Compared to the national median property tax rate of 0.99%, Hallett's rates are relatively modest, providing some financial relief to homeowners. However, understanding these factors is crucial for budgeting and financial planning, as property taxes are a recurring expense that can impact overall homeownership costs.
Average Hallett Tax Bill
$232
Average Pawnee County Tax Bill
$656
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hallett, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74034 | $62 | $88 | $232 | $376 | $707 |
Source: Ownwell