Maramec, Oklahoma Property Taxes
The median property tax rate in Maramec, OK is 0.86%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $61,615 in Maramec, the typical annual property tax bill amounts to $532, significantly less than the national median of $2,690. Property taxes in Maramec are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Maramec'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 Maramec or another part of Payne County, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maramec, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$530
Ownwell’s Maramec Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Maramec. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Maramec to provide an accurate estimate of your property tax bill. This helps you understand your potential tax liabilities with ease. For those interested in more detailed insights, scroll down to explore trends at the neighborhood level. Your property’s assessed value, determined by the county, forms the basis for these calculations and takes into account any applicable exemptions.
Property Tax Rates Across Maramec, Oklahoma
Property taxes in Maramec, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maramec is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Maramec set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maramec 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 Maramec's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74045 has both the highest and lowest median property tax rate of 0.86%, illustrating a consistent rate across the region. Understanding how these areas compare with Maramec provides valuable insights into the varying tax landscape across Payne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maramec Tax Rate
0.86%
Average Payne County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maramec, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74045 | 0.85% | 0.85% | 0.86% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Maramec, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Maramec, 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 Payne 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 Maramec, 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 Maramec helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Maramec, the zip code 74045 has both the highest and lowest median tax bill at $532.
Average Maramec Assessed Value
$61,615
Average Payne County Assessed Value
$185,340
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maramec, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74045 | $51,443 | $55,258 | $61,615 | $67,972 | $71,787 |
Source: Ownwell
Property Tax Bills Across Maramec, Oklahoma
In Maramec, located in Payne County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by the county assessor. For homeowners in Maramec, the median home price stands at $61,615. The property tax rate in this area is compared to the national median property tax rate of 0.99%. The tax bill for a property can vary significantly depending on its assessed value. For instance, the 25th percentile tax bill is $473, while the 75th percentile tax bill is $590. At the 90th percentile, homeowners can expect a tax bill of around $625. These amounts reflect the variability in assessed values and the corresponding tax obligations. Homeowners in Maramec should be aware that property taxes are a significant factor in their annual expenses. Accurate assessments ensure that each homeowner pays their fair share, contributing to local services and infrastructure. Understanding these factors can help homeowners better manage their finances and anticipate future tax obligations.
Average Maramec Tax Bill
$532
Average Payne County Tax Bill
$1,635
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Maramec, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74045 | $438 | $473 | $532 | $590 | $625 |
Source: Ownwell