Gate, Oklahoma Property Taxes
The median property tax rate in Gate, OK is 0.70%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $59,849 in Gate, the typical annual property tax bill is about $348, significantly below the national median of $2,690. Property taxes in Gate are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Gate's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gate or another part of Beaver County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gate, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$419
Ownwell’s GATE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GATE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GATE 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 Gate, Oklahoma
Property taxes in Gate, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gate is 0.70%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Gate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gate 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 Gate's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73844 zip code has the highest median property tax rate of 0.70%, while the 73844 zip code has the lowest median tax rate of 0.70%. Understanding how these cities compare with Gate provides valuable insights into the varying tax landscape across Beaver County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gate Tax Rate
0.70%
Average Beaver County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gate, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73844 | 0.40% | 0.52% | 0.70% | 0.82% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Gate, Oklahoma
In GATE, 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 Beaver 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 GATE, 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. The median home price in GATE is $59,849, with tax bills ranging from $181 at the 25th percentile to $1,244 at the 90th percentile. The zip code 73844 has the highest and lowest median tax bill of $348. 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 GATE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gate Assessed Value
$59,849
Average Beaver County Assessed Value
$81,838
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gate, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73844 | $20,607 | $30,640 | $59,849 | $101,102 | $181,202 |
Source: Ownwell
Property Tax Bills Across Gate, Oklahoma
In GATE, located in Beaver County, OK, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the annual tax bill. For instance, with a median home price of $59,849, homeowners might expect a tax bill ranging from $181 at the 25th percentile to $1,244 at the 90th percentile. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions. Comparatively, the national median property tax rate is 0.99%, making GATE's rates relatively modest. Homeowners in GATE benefit from lower property taxes, which can result in more affordable living costs. This financial advantage can make homeownership more accessible and sustainable, particularly for those on a budget. Understanding these factors can help homeowners better manage their expenses and plan for their financial future.
Average Gate Tax Bill
$348
Average Beaver County Tax Bill
$600
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Gate, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73844 | $109 | $181 | $348 | $768 | $1,244 |
Source: Ownwell