Garber, Oklahoma Property Taxes
The median property tax rate in Garber, OK is 1.06%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Garber at $55,550, the typical annual property tax bill is $518, which is significantly lower than the national median of $2,690. Property taxes in Garber are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Garber'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 Garber 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
Garber, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$589
Ownwell’s Garber Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garber with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garber 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 Garber, Oklahoma
Property taxes in Garber, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garber is 0.89%, lower than both the Oklahoma state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Garber set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garber 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 Garber's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73738 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Garber provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garber Tax Rate
1.06%
Average Garfield County Tax Rate
1.14%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garber, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73738 | 0.43% | 0.68% | 1.06% | 1.29% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Garber, Oklahoma
In Garber, 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 Garfield 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 Garber, 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 Garber helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Garber is $55,550, with annual tax bills ranging from $240 at the 25th percentile to $1,755 at the 90th percentile. The zip code 73738 has the highest and lowest median tax bill at $518.
Average Garber Assessed Value
$55,550
Average Garfield County Assessed Value
$94,470
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garber, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73738 | $17,664 | $32,190 | $55,550 | $92,260 | $157,328 |
Source: Ownwell
Property Tax Bills Across Garber, Oklahoma
In Garber, Garfield County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Garber can expect their tax bills to vary significantly, with the 25th percentile at $240 and the 75th percentile reaching $911. At the higher end, the 90th percentile tax bill can be as much as $1,755. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions. For instance, a median home price in Garber is $55,550, which is relatively low compared to national figures. This lower home value contributes to generally lower property tax bills in the area. However, even within this range, the highest median tax bill recorded is $518 in the 73738 zip code. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Garber Tax Bill
$518
Average Garfield County Tax Bill
$950
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Garber, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73738 | $133 | $240 | $518 | $911 | $1,755 |
Source: Ownwell