Goltry, Oklahoma Property Taxes
The median property tax rate in Goltry, OK is 0.84%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Goltry, the typical annual property tax bill amounts to $352, significantly less than the national median of $2,690. Property taxes in Goltry 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 Goltry'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 Goltry 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
Goltry, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$386
Ownwell’s Goltry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goltry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goltry 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 Goltry, Oklahoma
Property taxes in Goltry, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goltry is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Goltry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goltry 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. Understanding how Goltry's effective property tax rate compares to other areas within Alfalfa County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goltry Tax Rate
0.84%
Average Alfalfa County Tax Rate
0.87%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goltry, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73739 | 0.49% | 0.67% | 0.84% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Goltry, Oklahoma
In Goltry, 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 local 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 Goltry, 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 Goltry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Goltry is 73739, with a median tax bill of $352.00.
Average Goltry Assessed Value
$45,984
Average Alfalfa County Assessed Value
$48,960
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goltry, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73739 | $12,415 | $25,562 | $45,984 | $79,940 | $153,720 |
Source: Ownwell
Property Tax Bills Across Goltry, Oklahoma
Property tax bills in Goltry, Alfalfa County, Oklahoma, are calculated based on the assessed value of the property. The assessed value is a percentage of the market value, determined by the county assessor. For homeowners, this means that the higher the market value of their property, the higher the assessed value, and consequently, the higher the property tax bill. In Goltry, the median home price is $45,984, and the typical property tax bill can vary significantly. For instance, the tax bill at the 25th percentile is around $195, while at the 75th percentile, it rises to $642. At the 90th percentile, homeowners might see a tax bill as high as $1,326. These variations are influenced by factors such as property location, improvements, and local tax rates. Compared to the national median property tax rate of 0.99%, Goltry's property tax rates can be considered relatively moderate. This system ensures that property taxes are proportional to property values, impacting homeowners based on the specific characteristics and value of their property.
Average Goltry Tax Bill
$352
Average Alfalfa County Tax Bill
$402
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Goltry, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73739 | $96 | $195 | $352 | $642 | $1,326 |
Source: Ownwell