Sentinel, Oklahoma Property Taxes
The median property tax rate in Sentinel, OK is 0.69%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Sentinel, the typical annual property tax bill reaches $239, far below the national median of $2,690. Property taxes in Sentinel 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 Sentinel'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 Sentinel 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
Sentinel, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$255
Ownwell’s Sentinel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sentinel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sentinel 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 Sentinel, Oklahoma
Property taxes in Sentinel, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sentinel is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Sentinel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sentinel 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 Sentinel's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73664 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Sentinel 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 Sentinel Tax Rate
0.69%
Average Washita County Tax Rate
0.77%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sentinel, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73664 | 0.34% | 0.55% | 0.69% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Sentinel, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sentinel, Oklahoma. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Washita 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 Sentinel, 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. For instance, the median home price in Sentinel is $37,026, with tax bills ranging from $122 at the 25th percentile to $843 at the 90th percentile. Understanding these valuation concepts helps property owners navigate their tax responsibilities effectively. Knowing the highest and lowest median tax bills, both at $239 in zip code 73664, can also guide homeowners in managing their tax burden.
Average Sentinel Assessed Value
$37,026
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 Sentinel, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73664 | $13,151 | $20,734 | $37,026 | $66,148 | $118,524 |
Source: Ownwell
Property Tax Bills Across Sentinel, Oklahoma
In Sentinel, located in Washita County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Sentinel, the median home price is $37,026. Tax bills can vary significantly, with the 25th percentile at $122 and the 75th percentile reaching $468. At the 90th percentile, homeowners might see a tax bill as high as $843. Compared to the national median property tax rate of 0.99%, Sentinel's rates are relatively modest, offering some financial relief to property owners. However, these taxes are crucial for funding local services and infrastructure, directly impacting the community's quality of life.
Average Sentinel Tax Bill
$239
Average Washita County Tax Bill
$399
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Sentinel, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73664 | $59 | $122 | $239 | $468 | $843 |
Source: Ownwell