Muskogee, Oklahoma Property Taxes
The median property tax rate in Muskogee, OK is 0.94%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Muskogee at $102,157, the typical annual property tax bill comes to $956, which is significantly lower than the national median of $2,690. Property taxes in Muskogee 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 Muskogee'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 Muskogee 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
Muskogee, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$960
Ownwell’s Muskogee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Muskogee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Muskogee 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 Muskogee, Oklahoma
Property taxes in Muskogee, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Muskogee is 0.94%, slightly below the U.S. national median of 0.99%. Local government entities within Muskogee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Muskogee 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 Muskogee's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74403 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Muskogee provides valuable insights into the varying tax landscape across McIntosh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Muskogee Tax Rate
0.94%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Muskogee, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74403 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Muskogee, Oklahoma
In Muskogee, 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 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 Muskogee, 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 Muskogee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Muskogee are both $956 in the 74403 zip code.
Average Muskogee Assessed Value
$102,157
Average Mcintosh County Assessed Value
$81,769
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Muskogee, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74403 | $102,157 | $102,157 | $102,157 | $102,157 | $102,157 |
Source: Ownwell
Property Tax Bills Across Muskogee, Oklahoma
Property tax bills in Muskogee, McIntosh County, OK, are determined based on the assessed value of a property, which is a percentage of its market value. The median home price in Muskogee is $102,157. Property taxes are calculated by multiplying the assessed value by the local tax rate. In Muskogee, the median property tax bill is $956, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, improvements, and any applicable exemptions. Homeowners in Muskogee benefit from a relatively low property tax burden compared to the national average, making homeownership more affordable. The consistency in tax bills across different percentiles, with the 25th, 75th, and 90th percentiles all at $956, indicates a stable and predictable tax environment. This stability can be advantageous for budgeting and financial planning for homeowners in the area.
Average Muskogee Tax Bill
$956
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Muskogee, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74403 | $956 | $956 | $956 | $956 | $956 |
Source: Ownwell