Mooreland, Oklahoma Property Taxes
The median property tax rate in Mooreland, OK is 0.76%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Mooreland at $151,793, the typical annual property tax bill amounts to $1,139, significantly less than the national median of $2,690. Property taxes in Mooreland are calculated based on the tax assessed value, which typically falls below market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mooreland'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 Mooreland or another part of Major County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mooreland, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,154
Ownwell’s Mooreland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mooreland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mooreland 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 Mooreland, Oklahoma
Property taxes in Mooreland, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mooreland is 0.75%, significantly lower than the U.S. national median of 0.99%. Local government entities within Mooreland set these rates annually, and they can vary across different neighborhoods. Each year, Mooreland 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 Mooreland's effective property tax rate to other regions in Oklahoma and the national median. For comparison, the zip code 73852 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these areas compare with Mooreland provides valuable insights into the varying tax landscape across Major County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooreland Tax Rate
0.76%
Average Major County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mooreland, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73852 | 0.75% | 0.75% | 0.76% | 0.82% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Mooreland, Oklahoma
In Mooreland, 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 Major 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 Mooreland, 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 Mooreland 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 73852, with a tax bill of $1,139.
Average Mooreland Assessed Value
$151,793
Average Major County Assessed Value
$92,366
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mooreland, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73852 | $106,707 | $123,614 | $151,793 | $179,773 | $196,561 |
Source: Ownwell
Property Tax Bills Across Mooreland, Oklahoma
Property tax bills in Mooreland, located in Major County, OK, are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, which is determined by local assessors. Factors such as property size, location, and any improvements or renovations are considered when determining the market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Mooreland, the median home price is $151,793. Homeowners can expect to pay a tax bill ranging from $986 at the 25th percentile to $1,358 at the 75th percentile, with the 90th percentile reaching up to $1,489. Comparatively, the national median property tax rate is 0.99%, which highlights that Mooreland's property tax rates are relatively moderate. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for Mooreland residents. Homeowners should be aware of these factors as they significantly affect their annual financial planning and long-term investment in their homes.
Average Mooreland Tax Bill
$1,139
Average Major County Tax Bill
$720
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooreland, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73852 | $894 | $986 | $1,139 | $1,358 | $1,489 |
Source: Ownwell