Coalgate, Coal County, Oklahoma Property Taxes
The median property tax rate in Coalgate, OK is 0.59%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Coalgate at $72,140, the typical annual property tax bill is $418, significantly below the national median of $2,690. Property taxes in Coalgate are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Coalgate'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 Coalgate 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
Coalgate, Coal County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$426
$395
Ownwell’s Coalgate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coalgate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coalgate 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 Coalgate, Coal County, Oklahoma
Property taxes in Coalgate, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coalgate is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Coalgate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coalgate 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 Coalgate's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74538 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Coalgate provides valuable insights into the varying tax landscape across Coal County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coalgate Tax Rate
0.59%
Average Coal County Tax Rate
0.60%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coalgate, Coal County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74538 | 0.30% | 0.43% | 0.59% | 0.78% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Coalgate, Coal County, Oklahoma
In Coalgate, 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 Coal County 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 Coalgate, 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 Coalgate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $418 in the 74538 zip code, while the lowest median tax bill is also $418 in the same zip code.
Property Tax Assessment Values Across Coalgate, Coal County, Oklahoma
Source: Ownwell
$42,769
$84,013
$125,256
Average Coalgate Assessed Value
$72,140
Average Coal County Assessed Value
$69,824
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coalgate, Coal County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74538 | $24,467 | $42,013 | $72,140 | $125,002 | $194,844 |
Source: Ownwell
Property Tax Bills Across Coalgate, Coal County, Oklahoma
In Coalgate, located in Coal 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 typically represents a percentage of the property's market value. Various factors, such as the home's size, age, location, and any improvements made, are considered in determining this value. Homeowners in Coalgate can expect to see a range in their property tax bills. For example, the 25th percentile tax bill is around $210, while the 75th percentile reaches approximately $770, and the 90th percentile can be as high as $1,414. These figures highlight the variability in tax obligations depending on property characteristics and assessed values. Compared to the national median property tax rate of 0.99%, Coalgate's tax bills are relatively moderate, which can be an advantage for homeowners. Understanding how these taxes are calculated can help homeowners better anticipate their annual financial commitments and plan accordingly.
Average Coalgate Tax Bill
$418
Average Coal County Tax Bill
$407
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Coalgate, Coal County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74538 | $112 | $210 | $418 | $770 | $1,414 |
Source: Ownwell