Elmer, Oklahoma Property Taxes
The median property tax rate in Elmer, OK is 0.87%, 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 $54,627 in Elmer, the typical annual property tax bill amounts to $380, significantly below the national median of $2,690. Property taxes in Elmer are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Elmer's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Elmer or another part of Jackson County, understanding the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Elmer, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$475
Ownwell’s ELMER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ELMER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ELMER 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 Elmer, Oklahoma
Property taxes in Elmer, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elmer is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Elmer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elmer 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 Elmer's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73539 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Elmer provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elmer Tax Rate
0.87%
Average Jackson County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elmer, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73539 | 0.40% | 0.63% | 0.87% | 1.01% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Elmer, Oklahoma
In Elmer, 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 Elmer, 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 example, the median home price in Elmer is $54,627. The 25th percentile tax bill is $176, while the 75th percentile tax bill rises to $809, and the 90th percentile tax bill can reach $2,432. 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 Elmer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elmer Assessed Value
$54,627
Average Jackson County Assessed Value
$62,313
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elmer, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73539 | $14,009 | $22,254 | $54,627 | $95,326 | $230,660 |
Source: Ownwell
Property Tax Bills Across Elmer, Oklahoma
In the city of Elmer, located in Jackson County, OK, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The county assessor determines this value, taking into account factors such as the property's size, location, and condition. For homeowners, this means that changes in the real estate market or improvements to the home can impact their tax bill. The median home price in Elmer is $54,627. Property tax rates are applied to the assessed value to determine the annual tax bill. For example, homeowners at the 25th percentile can expect to pay around $176, while those at the 75th percentile may see bills closer to $809. At the high end, the 90th percentile tax bill reaches $2,432. Compared to the national median property tax rate of 0.99%, Elmer's rates can offer significant savings, making it an attractive location for homeowners looking to minimize their property tax burden.
Average Elmer Tax Bill
$380
Average Jackson County Tax Bill
$496
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Elmer, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73539 | $83 | $176 | $380 | $809 | $2,432 |
Source: Ownwell