Mcalester, Oklahoma Property Taxes
The median property tax rate in McAlester, OK is 0.77%, 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 $92,198 in McAlester, the typical annual property tax bill amounts to $629, significantly below the national median of $2,690. Property taxes in McAlester are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding McAlester'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 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
0.77%
Estimate Property Tax Bill
$710
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 0.77%, which is below 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 areas in Pittsburg County and the national median. For comparison, the 74502 zip code has the highest median property tax rate of 0.83%, while the 74501 zip code has the lowest median tax rate of 0.77%. Understanding how these areas compare with McAlester 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 Mcalester Tax Rate
0.77%
Average Pittsburg County Tax Rate
0.73%
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 | 0.41% | 0.56% | 0.77% | 0.92% | 0.96% |
| 74502 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
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 represents 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. 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. McAlester homeowners can expect a median home price of $92,198. The tax bills vary, with the 25th percentile at $332 and the 75th percentile at $1,147. The highest median tax bill is $644 in the 74502 zip code, while the lowest is $629 in the 74501 zip code. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Mcalester Assessed Value
$92,198
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 Mcalester, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74501 | $30,000 | $51,326 | $92,198 | $153,670 | $239,569 |
| 74502 | $77,388 | $77,388 | $77,388 | $77,388 | $77,388 |
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. The median home price in McAlester is $92,198, and property tax rates are applied to this assessed value to determine the tax bill. Homeowners in McAlester can expect tax bills to vary widely, with the 25th percentile tax bill around $332 and the 75th percentile reaching up to $1,147. At the 90th percentile, tax bills can go as high as $1,874. Several factors influence these amounts, including the home's location within Pittsburg County and any applicable exemptions or deductions. For instance, the highest median tax bill in the area is $644 in zip code 74502, while the lowest is $629 in zip code 74501. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Compared to the national median property tax rate of 0.99%, McAlester offers relatively affordable property tax rates, making it an attractive option for potential homeowners.
Average Mcalester Tax Bill
$629
Average Pittsburg County Tax Bill
$571
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 | $170 | $332 | $629 | $1,147 | $1,874 |
| 74502 | $644 | $644 | $644 | $644 | $644 |
Source: Ownwell