Pocola, Oklahoma Property Taxes
The median property tax rate in Pocola, OK is 0.86%, 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 Pocola at $72,697, the typical annual property tax bill is $612, significantly below the national median of $2,690. Property taxes in Pocola are determined based on the assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Grasping Pocola's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Pocola or another part of Le Flore County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pocola, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$625
Ownwell’s Pocola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pocola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pocola 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 Pocola, Oklahoma
Property taxes in Pocola, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pocola is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Pocola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pocola 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 Pocola's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74902 has the highest median property tax rate of 0.86%, while the same zip code also has the lowest median tax rate of 0.86%. Understanding how these cities compare with Pocola provides valuable insights into the varying tax landscape across Le Flore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pocola Tax Rate
0.86%
Average Le Flore County Tax Rate
0.80%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pocola, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74902 | 0.63% | 0.77% | 0.86% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Pocola, Oklahoma
In Pocola, 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 Le Flore County Assessor 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. 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 Pocola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Pocola is $612.00, found in the 74902 zip code.
Average Pocola Assessed Value
$72,697
Average Le Flore County Assessed Value
$72,264
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pocola, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74902 | $27,669 | $46,586 | $72,697 | $116,718 | $175,000 |
Source: Ownwell
Property Tax Bills Across Pocola, Oklahoma
In Pocola, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value determined by the county assessor. For example, with a median home price of $72,697, homeowners can expect an annual tax bill ranging from $374 at the 25th percentile to $1,576 at the 90th percentile. The median property tax bill in Pocola is $612, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location within Le Flore County and any applicable exemptions or deductions. Homeowners in Pocola benefit from relatively low property taxes, which can make homeownership more affordable compared to other regions. However, it’s crucial to stay informed about potential changes in assessed values or tax rates, as these can directly impact your financial planning and overall cost of living. Understanding how your property tax bill is determined helps you better manage your budget and anticipate future expenses.
Average Pocola Tax Bill
$612
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Pocola, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74902 | $213 | $374 | $612 | $1,006 | $1,576 |
Source: Ownwell