Maysville, Oklahoma Property Taxes
The median property tax rate in Maysville, OK is 0.55%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Maysville, the typical annual property tax bill is $406, well below the national median of $2,690. Property taxes in Maysville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Maysville'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 Maysville or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maysville, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$414
Ownwell’s Maysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maysville 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 Maysville, Oklahoma
Property taxes in Maysville, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maysville is 0.55%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Maysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maysville 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 Maysville's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73057 zip code has the highest median property tax rate of 0.55%, while the 73057 zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Maysville provides valuable insights into the varying tax landscape across Garvin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maysville Tax Rate
0.55%
Average Garvin County Tax Rate
0.69%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maysville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73057 | 0.28% | 0.41% | 0.55% | 0.73% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Maysville, Oklahoma
In Maysville, 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 Garvin 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 Maysville, 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 Maysville 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 $406 in zip code 73057, while the lowest median tax bill is also $406 in the same zip code.
Average Maysville Assessed Value
$75,226
Average Garvin County Assessed Value
$84,504
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maysville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73057 | $33,391 | $49,199 | $75,226 | $122,606 | $188,244 |
Source: Ownwell
Property Tax Bills Across Maysville, Oklahoma
Property tax bills in Maysville, Garvin County, OK, are calculated based on the assessed value of the property. The county assessor evaluates properties to determine their assessed value, which is then multiplied by the local tax rate to calculate the tax bill. In Maysville, the median home price is $75,226, and homeowners can expect to pay a property tax bill ranging from $244 at the 25th percentile to $712 at the 75th percentile, with the 90th percentile reaching $1,223. Several factors influence the tax bill, including property size, location, and improvements. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Maysville's rates offer a relatively affordable option for homeowners, making it an attractive place to live while still contributing to the community's overall well-being.
Average Maysville Tax Bill
$406
Average Garvin County Tax Bill
$559
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Maysville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73057 | $128 | $244 | $406 | $712 | $1,223 |
Source: Ownwell