Muskogee, Oklahoma Property Taxes
The median property tax rate in Muskogee, OK is 0.57%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $162,018 in Muskogee, the typical annual property tax bill amounts to $674, which is well below the national median of $2,690. Property taxes in Muskogee are determined based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Muskogee's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Muskogee or another part of the city, familiarizing yourself with the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Muskogee, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$924
Ownwell’s Muskogee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Muskogee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Muskogee 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 Muskogee, Oklahoma
Property taxes in Muskogee, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Muskogee is 0.57%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Muskogee set these rates annually, and they can vary across different neighborhoods. Each year, Muskogee estimates its required budget to maintain services for the upcoming fiscal year and 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 Muskogee's property tax rate compares to other areas provides valuable insights into the varying tax landscape across Wagoner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Muskogee Tax Rate
0.57%
Average Wagoner County Tax Rate
0.86%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Muskogee, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74403 | 0.22% | 0.44% | 0.57% | 0.74% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Muskogee, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Muskogee, 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 local appraisal district 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 Muskogee, 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 Muskogee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Muskogee is $674, found in zip code 74403, while the lowest median tax bill is also $674 in the same zip code.
Average Muskogee Assessed Value
$162,018
Average Wagoner County Assessed Value
$214,676
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Muskogee, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74403 | $21,018 | $69,375 | $162,018 | $226,445 | $278,952 |
Source: Ownwell
Property Tax Bills Across Muskogee, Oklahoma
In Muskogee, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of your property. For instance, if the median home price is $162,018, the assessed value will be a fraction of this amount. Property tax rates are then applied to this assessed value to determine your tax bill. Several factors influence your tax bill, including property location, local tax rates, and any applicable exemptions. In Muskogee, tax bills can vary significantly, with the 25th percentile paying around $251 and the 75th percentile paying up to $1,243. The highest median tax bill in the area is $674, found in the 74403 zip code. These variations can impact homeowners differently, affecting affordability and financial planning. Compared to the national median property tax rate of 0.99%, Muskogee's rates offer a unique perspective on property taxes in Oklahoma.
Average Muskogee Tax Bill
$674
Average Wagoner County Tax Bill
$1,718
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Muskogee, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74403 | $149 | $251 | $674 | $1,243 | $1,809 |
Source: Ownwell