Talala, Washington County, Oklahoma Property Taxes
The median property tax rate in Talala, OK is 1.04%, slightly higher than both the national median of 0.99% and Oklahoma's state median of 0.97%. With the median home value in Talala, the typical annual property tax bill reaches $1,256, which is lower than the national median of $2,690. Property taxes in Talala 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 Talala'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 Talala or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Talala, Washington County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,418
$1,316
Ownwell’s Talala Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Talala with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Talala 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 Talala, Washington County, Oklahoma
Property taxes in Talala, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Talala is 0.63%, lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Talala set these rates annually, and they can vary significantly across different neighborhoods. Each year, Talala 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 Talala's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74080 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these areas compare with Talala provides valuable insights into the varying tax landscape across Rogers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Talala Tax Rate
1.04%
Average Washington County Tax Rate
1.17%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Talala, Washington County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74080 | 0.55% | 0.81% | 1.04% | 1.12% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Talala, Washington County, Oklahoma
In Talala, 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 Washington 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 Talala, 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 Talala helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Talala is $1,256 in the 74080 zip code, which also has the lowest median tax bill.
Property Tax Assessment Values Across Talala, Washington County, Oklahoma
Source: Ownwell
$42,980
$108,015
$173,050
Average Talala Assessed Value
$136,392
Average Washington County Assessed Value
$108,690
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Talala, Washington County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74080 | $45,578 | $87,951 | $136,392 | $232,420 | $316,272 |
Source: Ownwell
Property Tax Bills Across Talala, Washington County, Oklahoma
Property tax bills in Talala, Washington County, OK, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. For instance, a home with a median price of $136,392 will have its assessed value calculated accordingly. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in Talala can expect varying tax bills depending on these factors. For example, those in the 25th percentile might pay around $680, while those in the 75th percentile could see bills as high as $2,293. The highest median tax bill recorded in the area is $1,256, a figure that provides a benchmark for local property taxes. Understanding these elements helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Talala Tax Bill
$1,256
Average Washington County Tax Bill
$1,167
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Talala, Washington County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74080 | $364 | $680 | $1,256 | $2,293 | $3,517 |
Source: Ownwell