Yale, Pawnee County, Oklahoma Property Taxes
The median property tax rate in Yale, OK is 0.96%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value in Yale, the typical annual property tax bill reaches $541, which is significantly below the national median of $2,690. Property taxes in Yale 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 Yale'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 Yale 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
Yale, Pawnee County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$616
$572
Ownwell’s Yale Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Yale using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yale to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Yale, Pawnee County, Oklahoma
Property taxes in Yale, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yale is 0.96%, slightly lower than the U.S. national median of 0.99%. Local government entities within Yale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yale 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. Understanding how these cities compare with Yale 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 Yale Tax Rate
0.96%
Average Pawnee County Tax Rate
0.99%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yale, Pawnee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74085 | 0.55% | 0.77% | 0.96% | 1.07% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Yale, Pawnee County, Oklahoma
In Yale, 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 Yale, 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 Yale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Yale is $64,206, with tax bills ranging from $360 at the 25th percentile to $1,547 at the 90th percentile. The highest and lowest median tax bills are both $541 in zip code 74085.
Property Tax Assessment Values Across Yale, Pawnee County, Oklahoma
Source: Ownwell
$27,950
$55,701
$83,452
Average Yale Assessed Value
$64,206
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 Yale, Pawnee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74085 | $35,967 | $42,633 | $64,206 | $90,777 | $139,994 |
Source: Ownwell
Property Tax Bills Across Yale, Pawnee County, Oklahoma
In Yale, located in Pawnee 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 Yale is $64,206. Homeowners can expect their tax bills to vary significantly, with the 25th percentile paying around $360, while those in the 75th percentile face bills of about $766. At the higher end, the 90th percentile pay up to $1,547. The highest and lowest median tax bills in the area are both recorded at $541, specifically in the 74085 zip code. Several factors influence these tax bills, including the home's assessed value, local tax rates, and any applicable exemptions. For homeowners, understanding these elements is crucial as they directly impact annual financial planning. Compared to the national median property tax rate of 0.99%, Yale's property tax rates reflect the local economic conditions and housing market dynamics. Homeowners should stay informed about any changes to property tax laws or local rates to effectively manage their expenses.
Average Yale Tax Bill
$541
Average Pawnee County Tax Bill
$656
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Yale, Pawnee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74085 | $331 | $360 | $541 | $766 | $1,547 |
Source: Ownwell