Mcalester, Oklahoma Property Taxes
The median property tax rate in McAlester, OK is 0.85%, 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 McAlester, the typical annual property tax bill reaches $404, significantly below the national median of $2,690. Property taxes in McAlester are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding McAlester'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 McAlester 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
Mcalester, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$402
Ownwell’s McAlester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McAlester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McAlester 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 Mcalester, Oklahoma
Property taxes in McAlester, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McAlester is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within McAlester set these rates annually, and they can vary significantly across different neighborhoods. Each year, McAlester 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 McAlester's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74501 has both the highest and lowest median property tax rate of 0.85%, highlighting uniformity within this area. Understanding how these cities compare with McAlester provides valuable insights into the varying tax landscape across McIntosh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mcalester Tax Rate
0.85%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcalester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74501 | 0.45% | 0.70% | 0.85% | 0.88% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Mcalester, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in McAlester, 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 McIntosh 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 McAlester, 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 McAlester is $47,288, with tax bills ranging from $230 at the 25th percentile to $1,136 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mcalester Assessed Value
$47,288
Average Mcintosh County Assessed Value
$81,769
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mcalester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74501 | $19,450 | $29,546 | $47,288 | $82,910 | $125,190 |
Source: Ownwell
Property Tax Bills Across Mcalester, Oklahoma
In McAlester, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Local tax authorities determine this assessed value and apply the county's tax rate to calculate the annual property tax bill. The median home price in McAlester is $47,288, and the median property tax bill is $404, significantly lower than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the home's location, size, and any applicable exemptions or abatements. For instance, tax bills in the 25th percentile are around $230, while those in the 75th percentile reach $736. Homeowners in the 90th percentile can expect to pay up to $1,136 annually. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life in the community. For homeowners, understanding these factors is crucial for financial planning and managing annual expenses effectively.
Average Mcalester Tax Bill
$404
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcalester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74501 | $114 | $230 | $404 | $736 | $1,136 |
Source: Ownwell