Morris, Oklahoma Property Taxes
The median property tax rate in Morris, OK is 1.07%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Morris at $90,313, the typical annual property tax bill reaches $865, which is below the national median of $2,690. Property taxes in Morris 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 Morris'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 Morris 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
Morris, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$966
Ownwell’s Morris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morris 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 Morris, Oklahoma
Property taxes in Morris, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morris is 1.07%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Morris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morris 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 Morris's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74445 zip code has the highest median property tax rate of 1.07%, while the 74445 zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Morris provides valuable insights into the varying tax landscape across Okmulgee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morris Tax Rate
1.07%
Average Okmulgee County Tax Rate
0.92%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morris, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74445 | 0.59% | 0.86% | 1.07% | 1.15% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Morris, Oklahoma
In Morris, 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 Okmulgee 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 Morris, 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 Morris is $90,313. Homeowners in the 25th percentile of tax bills pay around $466, while those in the 75th percentile pay approximately $1,429. The highest and lowest median tax bills are both $865, found in zip code 74445. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Morris Assessed Value
$90,313
Average Okmulgee County Assessed Value
$63,421
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morris, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74445 | $28,461 | $49,101 | $90,313 | $138,219 | $218,636 |
Source: Ownwell
Property Tax Bills Across Morris, Oklahoma
In Morris, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The median home price in Morris is $90,313. Property taxes are then levied on this assessed value, factoring in the local tax rate. The median property tax rate in Morris is consistent with the county's average, resulting in a median tax bill of $865. Several factors influence the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. For instance, homeowners in the 25th percentile can expect a tax bill around $466, while those in the 75th percentile might see bills closer to $1,429. The 90th percentile tax bills can reach up to $2,383. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how these taxes are calculated helps in financial planning and ensures they are prepared for their annual obligations.
Average Morris Tax Bill
$865
Average Okmulgee County Tax Bill
$510
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Morris, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74445 | $286 | $466 | $865 | $1,429 | $2,383 |
Source: Ownwell