Proctor, Oklahoma Property Taxes
The median property tax rate in Proctor, Oklahoma is 0.59%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Proctor, the typical annual property tax bill is $452, well below the national median of $2,690. Property taxes in Proctor 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 Proctor'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 Proctor 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
Proctor, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$462
Ownwell’s Proctor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Proctor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Proctor 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 Proctor, Oklahoma
Property taxes in Proctor, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Proctor is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Proctor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Proctor 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 Proctor's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74457 has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Proctor provides valuable insights into the varying tax landscape across Adair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Proctor Tax Rate
0.59%
Average Adair County Tax Rate
0.69%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Proctor, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74457 | 0.28% | 0.38% | 0.59% | 0.79% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Proctor, Oklahoma
In Proctor, 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 Adair 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 Proctor, 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 Proctor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 74457, with a median tax bill of $452.
Average Proctor Assessed Value
$78,329
Average Adair County Assessed Value
$66,022
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Proctor, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74457 | $22,543 | $44,399 | $78,329 | $126,964 | $184,200 |
Source: Ownwell
Property Tax Bills Across Proctor, Oklahoma
In Proctor, Adair County, OK, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The median home price in Proctor is $78,329. Property tax rates in Proctor are influenced by local government budgets and the needs of public services like schools, infrastructure, and emergency services. Homeowners in Proctor can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $212, while the 75th percentile tax bill is approximately $717. The 90th percentile tax bill can go up to $1,158. Comparatively, the national median property tax rate is 0.99%, making Proctor's property taxes relatively moderate. These taxes directly impact homeowners by contributing to the maintenance and development of local amenities and services, which in turn can affect property values and overall community well-being.
Average Proctor Tax Bill
$452
Average Adair County Tax Bill
$421
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Proctor, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74457 | $95 | $212 | $452 | $717 | $1,158 |
Source: Ownwell