Howe, Oklahoma Property Taxes
The median property tax rate in Howe, Oklahoma is 0.69%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value in Howe, the typical annual property tax bill is $604, significantly below the national median of $2,690. Property taxes in Howe are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Howe'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 Howe 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
Howe, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$652
Ownwell’s Howe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Howe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Howe 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 Howe, Oklahoma
Property taxes in Howe, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Howe is 0.69%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Howe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Howe 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 Howe's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74940 zip code has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Howe provides valuable insights into the varying tax landscape across Le Flore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Howe Tax Rate
0.69%
Average Le Flore County Tax Rate
0.80%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Howe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74940 | 0.42% | 0.56% | 0.69% | 0.82% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Howe, Oklahoma
In Howe, 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 Le Flore 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 Howe, 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 Howe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Howe is $604.00 in the 74940 zip code, while the lowest is also $604.00 in the same zip code.
Average Howe Assessed Value
$94,432
Average Le Flore County Assessed Value
$72,264
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Howe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74940 | $28,705 | $51,039 | $94,432 | $171,119 | $255,709 |
Source: Ownwell
Property Tax Bills Across Howe, Oklahoma
In Howe, located in Le Flore County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. Factors such as location, property size, and home improvements can influence this assessment. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. For homeowners in Howe, the median home price stands at $94,432. Property tax bills can vary significantly, with the 25th percentile paying around $292 and the 75th percentile paying approximately $1,243. At the higher end, the 90th percentile sees tax bills reaching up to $1,910. The highest and lowest median tax bills in the area are both $604, indicating some consistency within specific zip codes. These property taxes are vital for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Howe residents.
Average Howe Tax Bill
$604
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Howe, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74940 | $166 | $292 | $604 | $1,243 | $1,910 |
Source: Ownwell