Hartshorne, Oklahoma Property Taxes
The median property tax rate in Hartshorne, OK is 0.68%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $70,918 in Hartshorne, the typical annual property tax bill is $438, well below the national median of $2,690. Property taxes in Hartshorne are determined based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Hartshorne'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 Hartshorne or another part of Pittsburg County, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hartshorne, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$482
Ownwell’s Hartshorne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hartshorne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hartshorne 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 Hartshorne, Oklahoma
Property taxes in Hartshorne, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hartshorne is 0.68%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Hartshorne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hartshorne 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 Hartshorne's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74547 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these areas compare with Hartshorne provides valuable insights into the varying tax landscape across Pittsburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hartshorne Tax Rate
0.68%
Average Pittsburg County Tax Rate
0.73%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hartshorne, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74547 | 0.37% | 0.51% | 0.68% | 0.88% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Hartshorne, Oklahoma
In Hartshorne, 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 Pittsburg 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 Hartshorne, 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 Hartshorne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $438, found in the 74547 zip code.
Average Hartshorne Assessed Value
$70,918
Average Pittsburg County Assessed Value
$87,046
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hartshorne, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74547 | $23,850 | $39,763 | $70,918 | $112,284 | $176,430 |
Source: Ownwell
Property Tax Bills Across Hartshorne, Oklahoma
In Hartshorne, located in Pittsburg County, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $70,918. Tax authorities determine the tax bill by multiplying the assessed value by the local tax rate. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Hartshorne, the tax bill can vary significantly. The 25th percentile tax bill is $238, while the 75th percentile reaches $756, and the 90th percentile can be as high as $1,270. The highest and lowest median tax bills in the area are both $438, highlighting some consistency in the tax landscape. Compared to the national median property tax rate of 0.99%, Hartshorne's tax rates can be considered relatively moderate, which can be a relief for homeowners looking to manage their annual expenses.
Average Hartshorne Tax Bill
$438
Average Pittsburg County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hartshorne, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74547 | $124 | $238 | $438 | $756 | $1,270 |
Source: Ownwell