Poteau, Oklahoma Property Taxes
The median property tax rate in Poteau, OK is 0.85%, which is lower than both the national median of 0.99% and Oklahoma's state median of 0.97%. With the median home value in Poteau at $96,667, the typical annual property tax bill comes to $737, significantly less than the national median of $2,690. Property taxes in Poteau are calculated based on the tax assessed value, generally lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a clear understanding of Poteau'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 Poteau 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
Poteau, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$822
Ownwell’s Poteau Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Poteau with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Poteau 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 Poteau, Oklahoma
Property taxes in Poteau, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Poteau is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Poteau set these rates annually, and they can vary significantly across different neighborhoods. Each year, Poteau 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 Poteau's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 74953 zip code has both the highest and lowest median property tax rate of 0.85%. Understanding how these areas compare with Poteau 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 Poteau Tax Rate
0.85%
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 Poteau, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74953 | 0.56% | 0.69% | 0.85% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Poteau, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Poteau, Oklahoma. The market value reflects the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 Poteau, 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. For example, the median home price in Poteau is $96,667, with tax bills ranging from $359 at the 25th percentile to $1,329 at the 75th percentile. Both the highest and lowest median tax bills are $737 in the 74953 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and find opportunities for protesting assessments or applying for exemptions to manage their tax burden effectively.
Average Poteau Assessed Value
$96,667
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 Poteau, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74953 | $25,872 | $47,066 | $96,667 | $159,692 | $231,832 |
Source: Ownwell
Property Tax Bills Across Poteau, Oklahoma
In Poteau, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, with a median home price of $96,667, the assessed value is determined by the local property tax rate applied to this market value. Homeowners in Poteau can expect a range of tax bills depending on their property's assessed value. The 25th percentile tax bill is $359, while the 75th percentile tax bill is $1,329. For those at the higher end, the 90th percentile tax bill reaches $1,982. These figures illustrate the variability in property taxes, influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, the rates in Poteau offer a distinct perspective on how local property taxes can impact homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Poteau Tax Bill
$737
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Poteau, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74953 | $195 | $359 | $737 | $1,329 | $1,982 |
Source: Ownwell