Seminole, Oklahoma Property Taxes
The median property tax rate in Seminole, OK is 0.85%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $150,598 in Seminole, the typical annual property tax bill amounts to $1,436, significantly below the national median of $2,690. Property taxes in Seminole are based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Seminole'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 Seminole or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seminole, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,280
Ownwell’s Seminole Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Seminole. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Seminole to provide an accurate estimate of your property tax bill. This user-friendly tool helps you understand potential tax liabilities with ease. For those interested in more detailed insights, scrolling down reveals localized trends and information. Your property’s assessed value is determined by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Seminole, Oklahoma
Property taxes in Seminole, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seminole is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Seminole set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seminole 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 Seminole's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74868 has both the highest and the lowest median property tax rate of 0.85%. Understanding how these areas compare with Seminole provides valuable insights into the varying tax landscape across Pottawatomie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seminole Tax Rate
0.85%
Average Pottawatomie County Tax Rate
1.04%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seminole, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74868 | 0.67% | 0.74% | 0.85% | 0.97% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Seminole, Oklahoma
In Seminole, 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 local 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 Seminole, 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. The median home price in Seminole is $150,598, with tax bills ranging from $984 at the 25th percentile to $2,160 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip code 74868 has the highest and lowest median tax bill at $1,436. Being aware of these valuation processes in Seminole helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Seminole Assessed Value
$150,598
Average Pottawatomie County Assessed Value
$87,932
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seminole, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74868 | $98,120 | $117,799 | $150,598 | $183,397 | $203,076 |
Source: Ownwell
Property Tax Bills Across Seminole, Oklahoma
In Seminole, located in Pottawatomie County, OK, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is typically a percentage of the market value of the property. Factors such as location, property size, and improvements can influence this assessed value. For example, the median home price in Seminole is $150,598, which serves as a baseline for many calculations. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the tax bill. In Seminole, homeowners can expect a wide range of property tax bills. The 25th percentile tax bill is $984, while the 75th percentile reaches $1,889, and the 90th percentile goes up to $2,160. These variations show how different factors can significantly impact the final tax amount. Understanding how these elements interact helps homeowners anticipate their property tax obligations and manage their finances effectively.
Average Seminole Tax Bill
$1,436
Average Pottawatomie County Tax Bill
$764
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Seminole, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74868 | $713 | $984 | $1,436 | $1,889 | $2,160 |
Source: Ownwell