Carnegie, Oklahoma Property Taxes
The median property tax rate in Carnegie, Oklahoma is 0.96%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $83,462 in Carnegie, the typical annual property tax bill amounts to $799, which is significantly below the national median of $2,690. Property taxes in Carnegie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Carnegie's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to notable annual savings. Whether you're in the heart of Carnegie or another part of the city, grasping the intricacies of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carnegie, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$801
Ownwell’s Carnegie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carnegie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carnegie 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 Carnegie, Oklahoma
Property taxes in Carnegie, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carnegie is 0.96%, which is slightly below the U.S. national median of 0.99%. Local government entities within Carnegie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carnegie 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 Carnegie's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73015 has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these areas compare with Carnegie provides valuable insights into the varying tax landscape across Washita County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carnegie Tax Rate
0.96%
Average Washita County Tax Rate
0.77%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carnegie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73015 | 0.56% | 0.78% | 0.96% | 1.06% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Carnegie, Oklahoma
In Carnegie, 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 Washita 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 Carnegie, 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 Carnegie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Carnegie is $83,462, with tax bills ranging from $402 at the 25th percentile to $2,475 at the 90th percentile. The highest and lowest median tax bills are both $799, found in the 73015 zip code.
Average Carnegie Assessed Value
$83,462
Average Washita County Assessed Value
$56,348
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carnegie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73015 | $33,243 | $47,125 | $83,462 | $136,702 | $233,536 |
Source: Ownwell
Property Tax Bills Across Carnegie, Oklahoma
In Carnegie, located in Washita County, Oklahoma, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value of the property. For instance, with a median home price of $83,462, the property tax rate in Carnegie is comparatively lower than the national median property tax rate of 0.99%. Homeowners in Carnegie can expect their tax bills to vary significantly. For the 25th percentile, the tax bill is around $402, while for the 75th percentile, it rises to approximately $1,217. At the 90th percentile, homeowners might see tax bills as high as $2,475. Notably, the highest and lowest median tax bills in the area are both $799, within the zip code 73015. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Therefore, understanding how these taxes are calculated and their potential impact on annual expenses is crucial for homeowners in Carnegie.
Average Carnegie Tax Bill
$799
Average Washita County Tax Bill
$399
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Carnegie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73015 | $222 | $402 | $799 | $1,217 | $2,475 |
Source: Ownwell