Cheyenne, Oklahoma Property Taxes
The median property tax rate in Cheyenne, OK is 0.59%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Cheyenne, the typical annual property tax bill reaches $437, significantly below the national median of $2,690. Property taxes in Cheyenne 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 Cheyenne'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 Cheyenne 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
Cheyenne, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$431
Ownwell’s Cheyenne Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Cheyenne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cheyenne 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 Cheyenne, Oklahoma
Property taxes in Cheyenne, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cheyenne is 0.59%, which is significantly lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Cheyenne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cheyenne 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 Cheyenne's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 73628 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these figures compare with Cheyenne provides valuable insights into the varying tax landscape across Roger Mills County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cheyenne Tax Rate
0.59%
Average Roger Mills County Tax Rate
0.65%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cheyenne, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73628 | 0.34% | 0.44% | 0.59% | 0.71% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Cheyenne, Oklahoma
In Cheyenne, 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 Roger Mills 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. In Cheyenne, 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 Cheyenne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $437.00, found in the zip code 73628.
Average Cheyenne Assessed Value
$73,036
Average Roger Mills County Assessed Value
$80,498
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cheyenne, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73628 | $21,132 | $39,952 | $73,036 | $124,733 | $197,512 |
Source: Ownwell
Property Tax Bills Across Cheyenne, Oklahoma
In Cheyenne, Roger Mills County, OK, property tax bills are calculated based on the assessed value of a home, which is often a percentage of its market value. The county assessor determines this assessed value, which serves as the basis for the tax bill. Various factors, such as the property's location, size, and improvements, influence this assessed value. For homeowners in Cheyenne, the property tax rate is relatively low compared to the national median property tax rate of 0.99%. The tax bills in Cheyenne can range significantly, with the 25th percentile tax bill at $200 and the 90th percentile reaching up to $1,211. The median home price in the area is $73,036, making the property taxes more manageable for many residents. Understanding these factors is crucial for homeowners as property taxes can impact overall housing costs. Lower property taxes can make homeownership more affordable, while higher taxes might require additional financial planning.
Average Cheyenne Tax Bill
$437
Average Roger Mills County Tax Bill
$507
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Cheyenne, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73628 | $80 | $200 | $437 | $743 | $1,211 |
Source: Ownwell