Rufe, Oklahoma Property Taxes
The median property tax rate in Rufe, OK is 0.60%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Rufe, the typical annual property tax bill reaches $227, significantly below the national median of $2,690. Property taxes in Rufe 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 Rufe'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 Rufe or another part of McCurtain County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rufe, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$220
Ownwell’s RUFE Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers seeking to estimate their annual property taxes in RUFE. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate specific to RUFE to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by McCurtain County, is essential for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Rufe, Oklahoma
Property taxes in Rufe, Oklahoma, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Rufe is 0.60%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Rufe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rufe 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 Rufe's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74755 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Rufe provides valuable insights into the varying tax landscape across McCurtain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rufe Tax Rate
0.60%
Average Mccurtain County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rufe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74755 | 0.23% | 0.46% | 0.60% | 0.78% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Rufe, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in RUFE, Oklahoma. 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 McCurtain 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 RUFE, 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 RUFE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $227 in the 74755 zip code, which is also the lowest median tax bill, highlighting a uniformity in tax burdens within the locality.
Average Rufe Assessed Value
$36,632
Average Mccurtain County Assessed Value
$64,043
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rufe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74755 | $13,611 | $24,077 | $36,632 | $91,318 | $112,585 |
Source: Ownwell
Property Tax Bills Across Rufe, Oklahoma
In RUFE, located in McCurtain County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Various factors, including the home's location, size, and condition, influence its market value and, consequently, its assessed value. For homeowners in RUFE, the median home price stands at $36,632, with property tax bills varying significantly. At the 25th percentile, tax bills are around $131, while at the 75th percentile, they rise to $507. The 90th percentile sees tax bills reaching up to $703. These figures highlight the range of potential tax liabilities homeowners might face. Compared to the national median property tax rate of 0.99%, RUFE's property taxes can be relatively lower, offering some financial relief to homeowners. However, the variation in tax bills underscores the importance of understanding local property assessments and tax rates.
Average Rufe Tax Bill
$227
Average Mccurtain County Tax Bill
$440
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Rufe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74755 | $33 | $131 | $227 | $507 | $703 |
Source: Ownwell