Tecumseh, Oklahoma Property Taxes
The median property tax rate in Tecumseh, OK is 1.04%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $73,752 in Tecumseh, the typical annual property tax bill amounts to $663, which is notably lower than the national median of $2,690. Property taxes in Tecumseh are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Tecumseh'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 Tecumseh 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
Tecumseh, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$767
Ownwell’s Tecumseh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tecumseh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tecumseh 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 Tecumseh, Oklahoma
Property taxes in Tecumseh, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tecumseh is 1.04%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Tecumseh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tecumseh 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 Tecumseh's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74873 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Tecumseh 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 Tecumseh Tax Rate
1.04%
Average Pottawatomie County Tax Rate
1.04%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tecumseh, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74873 | 0.50% | 0.74% | 1.04% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Tecumseh, Oklahoma
In Tecumseh, 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 Pottawatomie 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 Tecumseh, 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 Tecumseh is $73,752, with tax bills ranging from $410 at the 25th percentile to $1,915 at the 90th percentile. The zip code 74873 has the highest and lowest median tax bill at $663. 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 Tecumseh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tecumseh Assessed Value
$73,752
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 Tecumseh, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74873 | $30,000 | $46,551 | $73,752 | $125,000 | $188,871 |
Source: Ownwell
Property Tax Bills Across Tecumseh, Oklahoma
In Tecumseh, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is determined by the Pottawatomie County Assessor's Office. The assessed value is typically a percentage of the home's market value. Various factors come into play when determining the tax bill, including the property's location, size, and any improvements made to it. For homeowners in Tecumseh, the median home price is $73,752, with property tax bills ranging significantly. At the 25th percentile, the tax bill is $410, while at the 75th percentile, it rises to $1,166. For those in the 90th percentile, the tax bill can go up to $1,915. The highest and lowest median tax bill in Tecumseh both stand at $663, which is notably lower than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners by influencing their overall housing costs and potentially affecting their decisions on property improvements and investments. Lower tax bills can make homeownership more affordable, while higher ones might necessitate careful financial planning.
Average Tecumseh Tax Bill
$663
Average Pottawatomie County Tax Bill
$764
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Tecumseh, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74873 | $216 | $410 | $663 | $1,166 | $1,915 |
Source: Ownwell