Proctor, Cherokee County, Oklahoma Property Taxes
The median property tax rate in Proctor, Oklahoma is 0.80%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value in Proctor, the typical annual property tax bill reaches $496, significantly below the national median of $2,690. Property taxes in Proctor are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Proctor'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 Proctor or another part of Cherokee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Proctor, Cherokee County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$672
$623
Ownwell’s Proctor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Proctor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Proctor 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 Proctor, Cherokee County, Oklahoma
Property taxes in Proctor, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Proctor is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Proctor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Proctor 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 Proctor's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74457 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these areas compare with Proctor provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Proctor Tax Rate
0.80%
Average Cherokee County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Proctor, Cherokee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74457 | 0.34% | 0.58% | 0.80% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Proctor, Cherokee County, Oklahoma
In Proctor, 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 Cherokee County Assessor's Office 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 Proctor, 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 Proctor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Proctor is $496 in the 74457 zip code, while the lowest median tax bill is also $496 in the same zip code.
Property Tax Assessment Values Across Proctor, Cherokee County, Oklahoma
Source: Ownwell
$62,464
$102,482
$142,500
Average Proctor Assessed Value
$83,949
Average Cherokee County Assessed Value
$95,710
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Proctor, Cherokee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74457 | $14,302 | $38,863 | $83,949 | $127,475 | $185,905 |
Source: Ownwell
Property Tax Bills Across Proctor, Cherokee County, Oklahoma
In Proctor, Cherokee County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Proctor can expect their tax bills to vary significantly, with the 25th percentile tax bill at $248 and the 75th percentile reaching $966. For those at the 90th percentile, the tax bill can be as high as $1,510. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Proctor's rates may seem more favorable, especially given the median home price of $83,949. However, these taxes can still have a considerable impact on homeowners, affecting their overall budget and financial planning. Understanding how these factors interplay can help homeowners better anticipate their annual property tax obligations.
Average Proctor Tax Bill
$496
Average Cherokee County Tax Bill
$703
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Proctor, Cherokee County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74457 | $114 | $248 | $496 | $966 | $1,510 |
Source: Ownwell