Red Rock, Oklahoma Property Taxes
The median property tax rate in Red Rock, OK is 0.58%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Red Rock at $60,315, the typical annual property tax bill amounts to $349, well below the national median of $2,690. Property taxes in Red Rock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Red Rock'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 Red Rock 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
Red Rock, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$350
Ownwell’s Red Rock Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Red Rock. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Red Rock to provide an estimate of your property tax bill. This handy tool offers a clear understanding of potential tax liabilities, aiding in more informed financial planning. For those interested in neighborhood-level trends, further localized information is available below. Your property’s assessed value, determined by the county, forms the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Red Rock, Oklahoma
Property taxes in Red Rock, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Red Rock is 0.58%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Red Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Red Rock 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 Red Rock's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74651 has both the highest and lowest median property tax rate of 0.58%, reflecting a uniform rate across the area. Understanding how these cities compare with Red Rock 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 Red Rock Tax Rate
0.58%
Average Pawnee County Tax Rate
0.99%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Red Rock, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74651 | 0.56% | 0.57% | 0.58% | 0.60% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Red Rock, Oklahoma
In Red Rock, 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 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 Red Rock, 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 Red Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 74651, both at $349.
Average Red Rock Assessed Value
$60,315
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 Red Rock, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74651 | $50,033 | $53,889 | $60,315 | $66,741 | $70,597 |
Source: Ownwell
Property Tax Bills Across Red Rock, Oklahoma
In Red Rock, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is a percentage of the market value determined by the county's tax assessor. For homeowners in Red Rock, the median home price is $60,315. The property tax rate in this area is relatively low compared to the national median property tax rate of 0.99%. The tax bill is influenced by several factors, including the home's assessed value, exemptions, and the specific tax rate set by local authorities. For example, homeowners in the 25th percentile can expect a tax bill around $320, while those in the 75th percentile might see a bill closer to $378. The highest tax bills, at the 90th percentile, are approximately $396. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated helps homeowners in Red Rock plan their finances and anticipate their annual obligations.
Average Red Rock Tax Bill
$349
Average Pawnee County Tax Bill
$656
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Red Rock, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74651 | $302 | $320 | $349 | $378 | $396 |
Source: Ownwell