Macomb, Oklahoma Property Taxes
The median property tax rate in Macomb, OK is 1.11%, higher than both the national median of 0.99% and Oklahoma's state median of 0.97%. With the median home value in Macomb at $79,105, the typical annual property tax bill is $820, which is lower than the national median of $2,690. Property taxes in Macomb are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Macomb'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 Macomb or another part of Cleveland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Macomb, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$878
Ownwell’s Macomb Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Macomb with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Macomb 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 Macomb, Oklahoma
Property taxes in Macomb, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Macomb is 0.75%, lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Macomb set these rates annually, and they can vary significantly across different neighborhoods. Each year, Macomb 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 Macomb's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74852 zip code has the highest median property tax rate of 0.75%, while the 74852 zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Macomb provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Macomb Tax Rate
1.11%
Average Cleveland County Tax Rate
1.13%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Macomb, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74852 | 0.45% | 0.77% | 1.11% | 1.35% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Macomb, Oklahoma
In Macomb, 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 Cleveland 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 Macomb, 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 Macomb helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $820.00, found in the 74852 zip code.
Average Macomb Assessed Value
$79,105
Average Cleveland County Assessed Value
$197,572
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Macomb, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74852 | $7,459 | $15,448 | $79,105 | $105,713 | $208,030 |
Source: Ownwell
Property Tax Bills Across Macomb, Oklahoma
In Macomb, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Macomb can expect property tax bills to vary significantly, with the 25th percentile at around $272 and the 75th percentile reaching $1,222. The highest median tax bill in the area is $820, which is consistent across the 74852 zip code. These figures are influenced by several factors, including property size, location, and any applicable exemptions. Comparatively, the national median property tax rate stands at 0.99%, which provides a benchmark for understanding local tax burdens. For homeowners, these taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life and community resources. Understanding how these bills are calculated helps homeowners plan their finances and anticipate changes in their annual obligations.
Average Macomb Tax Bill
$820
Average Cleveland County Tax Bill
$2,141
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Macomb, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74852 | $66 | $272 | $820 | $1,222 | $1,742 |
Source: Ownwell