Moore, Oklahoma Property Taxes
The median property tax rate in Moore, OK is 1.14%, higher than both the national median of 0.99% and Oklahoma's state median of 0.97%. With the median home value in Moore at $91,000, the typical annual property tax bill is $1,036, which is still below the national median of $2,690. Property taxes in Moore are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Moore'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 Moore 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
Moore, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,037
Ownwell’s Moore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moore 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 Moore, Oklahoma
Property taxes in Moore, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moore is 1.14%, significantly higher than the U.S. national median of 0.99%. Local government entities within Moore set these rates annually, and they can vary across different neighborhoods. Each year, Moore 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. Understanding how Moore's effective property tax rate compares to other counties in Oklahoma and the national median provides valuable insights into the varying tax landscape across Oklahoma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moore Tax Rate
1.14%
Average Oklahoma County Tax Rate
1.00%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73160 | 1.00% | 1.05% | 1.14% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Moore, Oklahoma
In Moore, 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 Oklahoma 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 Moore, 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 Moore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 73160 in Moore has the highest and lowest median tax bill, both at $1,036, reflecting the variability in property tax assessments.
Average Moore Assessed Value
$91,000
Average Oklahoma County Assessed Value
$192,500
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73160 | $19,649 | $37,500 | $91,000 | $156,500 | $235,400 |
Source: Ownwell
Property Tax Bills Across Moore, Oklahoma
In Moore, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The assessed value is determined by the county assessor and then multiplied by the local tax rate. For homeowners in Moore, the median home price is $91,000. Property tax bills can vary widely, with the 25th percentile at $507 and the 75th percentile reaching $1,642. The 90th percentile sees tax bills as high as $2,334. These figures indicate that while some homeowners may pay relatively low property taxes, others could face significantly higher bills. The local tax rate in Moore is influenced by various factors, including public school funding, municipal services, and infrastructure needs. Compared to the national median property tax rate of 0.99%, Moore's property taxes can be seen as moderate, though they can still pose a financial burden on some homeowners, particularly those with higher assessed property values.
Average Moore Tax Bill
$1,036
Average Oklahoma County Tax Bill
$1,891
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Moore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73160 | $265 | $507 | $1,036 | $1,642 | $2,334 |
Source: Ownwell