Fairland, Ottawa County, Oklahoma Property Taxes
Median Fairland, OK effective property tax rate: 0.76%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Fairland, OK home value: $97,177
Median annual Fairland, OK tax bill: $641, $1,759 lower than the national median property tax bill of $2,400.
How are property taxes in Ottawa County calculated?
Property taxes in Fairland, OK are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Fairland’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fairland, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Fairland, Ottawa County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.76%
Estimate Property Tax Bill
$739
$685
Property Tax Rates Across Fairland, Ottawa County, Oklahoma
Local government entities determine property tax rates, which can differ significantly within a state. Each county calculates its necessary budget to fund services and divides this by the total value of all taxable property within its area, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the annual procedure.
In Fairland, located in Ottawa County, the effective property tax rate stands at 0.76%, which aligns with the highest and lowest median tax rates in the state. This rate is noticeably lower than the national median property tax rate of 1.02%. For homeowners in Fairland, this means a relatively lower tax burden compared to national figures. The reduced tax rate can be an attractive factor for potential property owners and investors looking for opportunities in Oklahoma. By understanding these dynamics, property owners can better navigate their financial commitments and make informed decisions about their investments.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Fairland Tax Rate
0.76%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Ottawa County Tax Rate
0.80%
Median Effective Oklahoma Tax Rate
0.97%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Fairland, Ottawa County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74343 | 0.36% | 0.53% | 0.76% | 0.94% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Fairland, Ottawa County, Oklahoma
When examining property taxes in Fairland, Oklahoma, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Ottawa County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Ottawa County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Fairland. For example, the median home price in Fairland is $97,177, with tax bills ranging significantly across the county. Zip code 74343 has the highest median home price at $97,177.
Property Tax Assessment Values Across Fairland, Ottawa County, Oklahoma
Source: Ownwell
$38,912
$99,002
$159,092
Median Fairland Market Value
$97,177
Median Ottawa County Market Value
$84,000
Median Oklahoma Market Value
$137,280
Median United States Market Value
$235,294
Property Tax Assessment Values Across Fairland, Ottawa County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74343 | $28,275 | $56,617 | $97,177 | $150,208 | $217,755 |
Source: Ownwell
Property Tax Bills Across Fairland, Ottawa County, Oklahoma
In Fairland, Ottawa County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $97,177, Fairland homeowners face property tax bills that range from $332 at the 25th percentile to $1,795 at the 90th percentile. The median tax bill in this area is $641, which is significantly lower than the national median of $2,400.
Factors influencing the tax bill include changes in the assessed home value and local tax rates. High property taxes can place a financial burden on homeowners, impacting their overall housing costs. Ownwell can assist homeowners by identifying potential savings through property tax appeals and exemptions, ensuring they only pay their fair share. By leveraging expert knowledge and experience, Ownwell helps clients navigate the complexities of property tax systems, potentially reducing their tax bills and easing financial strain.
Median Fairland Tax Bill
$641
Median Ottawa County Tax Bill
$593
Median Oklahoma Tax Bill
$1,269
Median United States Tax Bill
$2,400
Property Tax Bills Across Fairland, Ottawa County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74343 | $169 | $332 | $641 | $1,089 | $1,795 |
Source: Ownwell