Marietta, Oklahoma Property Taxes
The median property tax rate in Marietta, OK is 1.10%, which is higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Marietta at $81,336, the typical annual property tax bill reaches $834, which is significantly lower than the national median of $2,690. Property taxes in Marietta are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Marietta'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 Marietta 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
Marietta, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$895
Ownwell’s Marietta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marietta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marietta 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 Marietta, Oklahoma
Property taxes in Marietta, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marietta is 1.10%, higher than the U.S. national median of 0.99%. Local government entities within Marietta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marietta 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 Marietta's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73448 zip code has the highest median property tax rate of 1.10%, while the same 73448 zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Marietta provides valuable insights into the varying tax landscape across Love County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marietta Tax Rate
1.10%
Average Love County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marietta, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73448 | 0.66% | 0.86% | 1.10% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Marietta, Oklahoma
In Marietta, 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 Love 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 Marietta, 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 Marietta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Marietta is $81,336, with tax bills ranging from $480 at the 25th percentile to $2,580 at the 90th percentile. The highest and lowest median tax bills both stand at $834 in the zip code 73448.
Average Marietta Assessed Value
$81,336
Average Love County Assessed Value
$84,103
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marietta, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73448 | $28,050 | $49,728 | $81,336 | $146,609 | $242,027 |
Source: Ownwell
Property Tax Bills Across Marietta, Oklahoma
In Marietta, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Marietta, located in Love County, can expect a range of property tax bills. For instance, the 25th percentile tax bill stands at $480, while the 75th percentile reaches $1,543. The median home price in Marietta is $81,336, which influences the overall tax bill. Comparatively, the highest median tax bill in the area is $834, found in the zip code 73448. This is lower than the national median property tax rate of 0.99%, making Marietta relatively affordable in terms of property taxes. Factors like property improvements, neighborhood developments, and changes in market conditions can also affect the assessed value and, consequently, the property tax bill. Homeowners should stay informed about these factors to anticipate changes in their annual tax obligations.
Average Marietta Tax Bill
$834
Average Love County Tax Bill
$778
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Marietta, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73448 | $283 | $480 | $834 | $1,543 | $2,580 |
Source: Ownwell