Finley, Oklahoma Property Taxes
The median property tax rate in Finley, OK is 0.48%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Finley at $84,898, the typical annual property tax bill is around $449, well below the national median of $2,690. Property taxes in Finley are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Gaining a thorough understanding of Finley'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 Finley or another part of Pushmataha County, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Finley, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$408
-$4,271
Ownwell’s Finley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Finley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Finley 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 Finley, Oklahoma
Property taxes in Finley, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Finley is 0.48%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Finley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Finley 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 Finley's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74543 zip code has the highest median property tax rate of 0.48%, while the 74543 zip code also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Finley provides valuable insights into the varying tax landscape across Pushmataha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Finley Tax Rate
0.48%
Average Pushmataha County Tax Rate
0.56%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Finley, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74543 | 0.24% | 0.36% | 0.48% | 0.59% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Finley, Oklahoma
In Finley, 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 Pushmataha 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. 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 Finley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Finley is $84,898, with tax bills ranging from $204 at the 25th percentile to $985 at the 90th percentile. The highest and lowest median tax bills, both $449, are found in zip code 74543.
Average Finley Assessed Value
$84,898
Average Pushmataha County Assessed Value
$75,969
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Finley, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74543 | $30,341 | $56,560 | $84,898 | $144,186 | $177,876 |
Source: Ownwell
Property Tax Bills Across Finley, Oklahoma
In Finley, Pushmataha County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is a percentage of the property's market value, and it forms the basis for the property tax rate applied. The median home price in Finley is $84,898, which provides a general idea of property values in the area. Tax rates in Pushmataha County are influenced by various factors, including local government budgets, school funding needs, and public service requirements. Homeowners in Finley can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $204, while the 75th percentile tax bill reaches $689. At the 90th percentile, the tax bill can be as high as $985. These taxes play a crucial role in funding local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Understanding how these bills are calculated helps homeowners plan their finances better and anticipate annual expenses.
Average Finley Tax Bill
$449
Average Pushmataha County Tax Bill
$395
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Finley, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74543 | $111 | $204 | $449 | $689 | $985 |
Source: Ownwell