Bunch, Sequoyah County, Oklahoma Property Taxes
The median property tax rate in Bunch, 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 Bunch, the typical annual property tax bill reaches $332, significantly below the national median of $2,690. Property taxes in Bunch 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 Bunch'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 Bunch 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
Bunch, Sequoyah County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$285
$265
Ownwell’s BUNCH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BUNCH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BUNCH 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 Bunch, Sequoyah County, Oklahoma
Property taxes in Bunch, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bunch is 0.54%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Bunch set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bunch 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 Bunch's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74931 has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Bunch provides valuable insights into the varying tax landscape across Sequoyah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bunch Tax Rate
0.54%
Average Sequoyah County Tax Rate
0.74%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bunch, Sequoyah County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74931 | 0.33% | 0.42% | 0.54% | 0.64% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Bunch, Sequoyah County, Oklahoma
In Bunch, 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 Sequoyah 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 in Bunch 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. For instance, the highest median tax bill in Bunch is $332 in the zip code 74931, while the lowest median tax bill is also $332 in the same zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bunch, Sequoyah County, Oklahoma
Source: Ownwell
$38,017
$68,359
$98,700
Average Bunch Assessed Value
$52,865
Average Sequoyah County Assessed Value
$80,752
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bunch, Sequoyah County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74931 | $19,838 | $30,903 | $52,865 | $85,224 | $130,447 |
Source: Ownwell
Property Tax Bills Across Bunch, Sequoyah County, Oklahoma
In Bunch, located in Sequoyah County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in Bunch is $52,865. Property taxes here are influenced by various factors, including the home's market value, local tax rates, and applicable exemptions. The median property tax rate in the United States is 0.99%, but in Bunch, the tax bills vary significantly. Homeowners in the 25th percentile pay around $186, while those in the 75th percentile face bills of approximately $505. The 90th percentile sees tax bills as high as $657. These property tax bills impact homeowners by contributing to the overall cost of homeownership, influencing decisions on buying or selling property, and affecting monthly budgeting. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Bunch Tax Bill
$332
Average Sequoyah County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Bunch, Sequoyah County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74931 | $90 | $186 | $332 | $505 | $657 |
Source: Ownwell