Fort Gibson, Oklahoma Property Taxes
The median property tax rate in Fort Gibson, OK is 0.77%, lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $118,266 in Fort Gibson, the typical annual property tax bill amounts to $723, significantly 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 significant annual savings. Whether you're in the heart of Fort Gibson or another part of Cherokee County, understanding 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
0.77%
Estimate Property Tax Bill
$911
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 0.77%, 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. The data below compares Fort Gibson's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74434 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Fort Gibson provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Gibson Tax Rate
0.77%
Average Cherokee County Tax Rate
0.83%
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 | 0.37% | 0.60% | 0.77% | 0.86% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Fort Gibson, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fort Gibson, 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 Cherokee 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. The median home price in Fort Gibson is $118,266, with tax bills ranging from $350 at the 25th percentile to $2,168 at the 90th percentile. The zip code 74434 has the highest median tax bill of $723. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fort Gibson Assessed Value
$118,266
Average Cherokee County Assessed Value
$95,710
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 | $29,897 | $56,515 | $118,266 | $185,258 | $261,206 |
Source: Ownwell
Property Tax Bills Across Fort Gibson, Oklahoma
In Fort Gibson, Cherokee County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this area experience a range of property tax bills, influenced by various factors including property size, location, and any applicable exemptions. The median home price in Fort Gibson is $118,266, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $350, while at the 75th percentile, it rises to $1,454. At the 90th percentile, homeowners might see tax bills as high as $2,168. The highest and lowest median tax bills in the region are both $723, indicating some uniformity in tax distribution across different zip codes. Compared to the national median property tax rate of 0.99%, Fort Gibson offers a relatively affordable property tax environment. These tax bills impact homeowners by contributing to local services such as schools, infrastructure, and public safety, making it crucial for homeowners to understand how their tax obligations are determined.
Average Fort Gibson Tax Bill
$723
Average Cherokee County Tax Bill
$703
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 | $146 | $350 | $723 | $1,454 | $2,168 |
Source: Ownwell