Fort Gibson, Oklahoma Property Taxes
The median property tax rate in Fort Gibson, OK is 0.55%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $95,743 in Fort Gibson, the typical annual property tax bill amounts to $450, far below the national median of $2,690. Property taxes in Fort Gibson 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 Fort Gibson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fort Gibson or another part of Wagoner County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fort Gibson, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$527
Ownwell’s FORT GIBSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORT GIBSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORT GIBSON 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 Fort Gibson, Oklahoma
Property taxes in Fort Gibson, Oklahoma, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Gibson is 0.55%, which is lower than the U.S. national median of 0.99%. Local government entities within Fort Gibson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Gibson 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. For comparison, Fort Gibson's effective property tax rate is consistent across the region, with the highest and lowest median property tax rates both at 0.55% in the 74434 zip code. Understanding how these rates compare within Wagoner County provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Gibson Tax Rate
0.55%
Average Wagoner County Tax Rate
0.86%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Gibson, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74434 | 0.26% | 0.38% | 0.55% | 0.76% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Fort Gibson, Oklahoma
In Fort Gibson, 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 Wagoner 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 Fort Gibson, 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 Fort Gibson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fort Gibson are both $450.00, found in the zip code 74434.
Average Fort Gibson Assessed Value
$95,743
Average Wagoner County Assessed Value
$214,676
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Gibson, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74434 | $11,367 | $32,680 | $95,743 | $160,081 | $211,235 |
Source: Ownwell
Property Tax Bills Across Fort Gibson, Oklahoma
In Fort Gibson, Wagoner County, OK, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value, determined by the county assessor. Factors such as property size, location, and improvements influence this assessed value. Once assessed, the value is multiplied by the local tax rate to determine the annual tax bill. The median home price in Fort Gibson is $95,743. Homeowners in the 25th percentile pay around $180 in property taxes, while those in the 75th percentile face bills of approximately $822. At the 90th percentile, tax bills can reach up to $1,165. The highest and lowest median tax bills in the area are both $450, indicating some stability in tax rates across different properties. Compared to the national median property tax rate of 0.99%, Fort Gibson offers a relatively affordable tax environment. This lower tax burden can make homeownership more accessible and financially manageable for residents, contributing to a stable housing market.
Average Fort Gibson Tax Bill
$450
Average Wagoner County Tax Bill
$1,718
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Gibson, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74434 | $74 | $180 | $450 | $822 | $1,165 |
Source: Ownwell