Mulhall, Oklahoma Property Taxes
The median property tax rate in Mulhall, OK is 0.72%, 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 Mulhall at $103,590, the typical annual property tax bill reaches $643, significantly below the national median of $2,690. Property taxes in Mulhall 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 Mulhall'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 Mulhall or another part of Logan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mulhall, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$746
Ownwell’s Mulhall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mulhall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mulhall 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 Mulhall, Oklahoma
Property taxes in Mulhall, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mulhall is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Mulhall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mulhall 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 Mulhall's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73063 has both the highest and lowest median property tax rate of 0.72%. Understanding how these cities compare with Mulhall provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mulhall Tax Rate
0.72%
Average Logan County Tax Rate
0.98%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mulhall, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73063 | 0.37% | 0.55% | 0.72% | 0.87% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Mulhall, Oklahoma
In Mulhall, 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 Logan 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. In Mulhall, 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. The median home price in Mulhall is $103,590, with tax bills ranging from $396 at the 25th percentile to $2,375 at the 90th percentile. The zip code 73063 has both the highest and lowest median tax bill at $643. Being aware of these valuation processes in Mulhall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mulhall Assessed Value
$103,590
Average Logan County Assessed Value
$165,842
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mulhall, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73063 | $38,340 | $63,261 | $103,590 | $174,515 | $289,577 |
Source: Ownwell
Property Tax Bills Across Mulhall, Oklahoma
In Mulhall, located in Logan County, OK, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the property's market value, which is determined by local assessors. Homeowners in Mulhall can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $396 and the 75th percentile reaching $1,227. Various factors influence the final tax bill, including property size, location, and any applicable exemptions. These factors contribute to a wide range of tax bills, with the 90th percentile tax bill hitting $2,375. Compared to the national median property tax rate of 0.99%, Mulhall's property tax rates are relatively moderate. For homeowners, understanding these factors is crucial as they directly impact annual expenses. Accurate assessment and awareness of potential exemptions can help manage and potentially reduce the financial burden of property taxes.
Average Mulhall Tax Bill
$643
Average Logan County Tax Bill
$1,451
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Mulhall, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73063 | $227 | $396 | $643 | $1,227 | $2,375 |
Source: Ownwell