Chouteau, Oklahoma Property Taxes
The median property tax rate in Chouteau, OK is 0.56%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Chouteau, the typical annual property tax bill is $158, far below the national median of $2,690. Property taxes in Chouteau are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chouteau'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 Chouteau 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
Chouteau, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$152
Ownwell’s Chouteau Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chouteau with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chouteau 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 Chouteau, Oklahoma
Property taxes in Chouteau, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Chouteau is 0.56%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Chouteau set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chouteau 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 Chouteau's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74337 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these areas compare with Chouteau provides valuable insights into the varying tax landscape across Mayes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chouteau Tax Rate
0.56%
Average Wagoner County Tax Rate
0.86%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chouteau, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74337 | 0.22% | 0.39% | 0.56% | 0.86% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Chouteau, Oklahoma
In Chouteau, 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 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 Chouteau, 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 Chouteau helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Chouteau are both $158.00, found in the zip code 74337.
Average Chouteau Assessed Value
$27,094
Average Wagoner County Assessed Value
$214,676
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chouteau, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74337 | $1,500 | $2,844 | $27,094 | $140,329 | $247,036 |
Source: Ownwell
Property Tax Bills Across Chouteau, Oklahoma
In Chouteau, Oklahoma, 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 Chouteau is $27,094. Property taxes are then levied using the county's tax rate, which is applied to the assessed value. Factors such as property location, improvements, and local levies contribute to the final tax bill. For example, homeowners in Chouteau can expect a wide range in their tax bills. The tax bill at the 25th percentile is $15, while at the 75th percentile, it rises to $763. The 90th percentile tax bill can go up to $1,759. The highest median tax bill in the area is $158, found in the zip code 74337, which also represents the lowest median tax bill, indicating a consistent rate across properties. These property tax bills impact homeowners by influencing their annual housing costs, potentially affecting their financial planning and property investment decisions. Compared to the national median property tax rate of 0.99%, Chouteau's property tax rates provide a relatively affordable tax environment for residents.
Average Chouteau Tax Bill
$158
Average Wagoner County Tax Bill
$1,718
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Chouteau, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74337 | $6 | $15 | $158 | $763 | $1,759 |
Source: Ownwell