Honobia, Oklahoma Property Taxes
The median property tax rate in Honobia, OK is 0.54%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Honobia at $99,160, the typical annual property tax bill reaches $462, significantly below the national median of $2,690. Property taxes in Honobia are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Honobia'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 Honobia or another part of Pushmataha County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Honobia, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$535
-$5,612
Ownwell’s HONOBIA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HONOBIA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HONOBIA 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 Honobia, Oklahoma
Property taxes in Honobia, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Honobia is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Honobia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honobia 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 Honobia's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74549 zip code has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with Honobia 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 Honobia Tax Rate
0.54%
Average Pushmataha County Tax Rate
0.56%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Honobia, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74549 | 0.34% | 0.38% | 0.54% | 0.66% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Honobia, Oklahoma
In Honobia, 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 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. 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 Honobia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Honobia is $462, found in the zip code 74549, while the lowest is also $462 in the same zip code.
Average Honobia Assessed Value
$99,160
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 Honobia, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74549 | $49,093 | $68,738 | $99,160 | $138,045 | $196,069 |
Source: Ownwell
Property Tax Bills Across Honobia, Oklahoma
In Honobia, located in Pushmataha County, OK, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. Local tax rates, set by various taxing authorities, are then applied to this assessed value to determine the final tax bill. For homeowners in Honobia, understanding these factors is crucial as they directly impact annual expenses. The median home price in Honobia is $99,160, and property tax bills can vary significantly. Homeowners at the 25th percentile pay around $282 annually, while those at the 75th percentile see bills closer to $738. At the 90th percentile, the tax bill can reach up to $1,028. These variations are influenced by the specific assessed values and the applicable tax rates in the area. Comparatively, the national median property tax rate is 0.99%, making Honobia's property tax rates relatively affordable for many homeowners. This affordability can make Honobia an attractive location for potential homebuyers looking for lower property tax liabilities.
Average Honobia Tax Bill
$462
Average Pushmataha County Tax Bill
$395
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Honobia, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74549 | $216 | $282 | $462 | $738 | $1,028 |
Source: Ownwell