Gould, Oklahoma Property Taxes
The median property tax rate in Gould, OK is 0.90%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Gould, the typical annual property tax bill reaches $292, significantly below the national median of $2,690. Property taxes in Gould 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 Gould'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 Gould 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
Gould, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$407
Ownwell’s Gould Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gould with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gould 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 Gould, Oklahoma
Property taxes in Gould, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gould is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Gould set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gould 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 Gould's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73544 has the same median property tax rate of 0.90%. Understanding how these cities compare with Gould provides valuable insights into the varying tax landscape across Harmon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gould Tax Rate
0.90%
Average Harmon County Tax Rate
1.09%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gould, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73544 | 0.40% | 0.59% | 0.90% | 1.16% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Gould, Oklahoma
In Gould, 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 Harmon 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 Gould, 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 Gould helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $292.00, found in the 73544 zip code.
Average Gould Assessed Value
$45,229
Average Harmon County Assessed Value
$33,150
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gould, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73544 | $5,967 | $19,258 | $45,229 | $80,342 | $124,595 |
Source: Ownwell
Property Tax Bills Across Gould, Oklahoma
In Gould, located in Harmon County, OK, property tax bills are determined by assessing the value of a property and applying the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the tax rate set by local authorities. For homeowners in Gould, the median home price stands at $45,229, which influences the overall tax bill. The tax bill can vary significantly, with the 25th percentile at $109, while the 75th percentile reaches $637, and the 90th percentile climbs to $1,306. These variations depend on the property's assessed value and any applicable exemptions or deductions. Homeowners in the zip code 73544 experience a median tax bill of $292, which is relatively low compared to the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable, although it also means fewer local funds for public services. Understanding these factors helps homeowners in Gould anticipate their annual property tax obligations.
Average Gould Tax Bill
$292
Average Harmon County Tax Bill
$322
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Gould, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73544 | $63 | $109 | $292 | $637 | $1,306 |
Source: Ownwell