Pauls Valley, Oklahoma Property Taxes
The median property tax rate in Pauls Valley, OK is 0.70%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Pauls Valley at $89,332, the typical annual property tax bill amounts to $616, significantly below the national median of $2,690. Property taxes in Pauls Valley are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Pauls Valley'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 Pauls Valley 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
Pauls Valley, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$625
Ownwell’s Pauls Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pauls Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pauls Valley 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 Pauls Valley, Oklahoma
Property taxes in Pauls Valley, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Pauls Valley is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Pauls Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pauls Valley 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 Pauls Valley's effective property tax rate to other areas in Garvin County and the national median. For comparison, the zip code 73075 has both the highest and lowest median property tax rate of 0.70%. Understanding how these figures compare with Pauls Valley 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 Pauls Valley Tax Rate
0.70%
Average Garvin County Tax Rate
0.69%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pauls Valley, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73075 | 0.35% | 0.51% | 0.70% | 0.89% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Pauls Valley, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pauls Valley, Oklahoma. 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 local authorities 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 Pauls Valley, 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. The median home price in Pauls Valley is $89,332, with tax bills ranging from $364 at the 25th percentile to $1,828 at the 90th percentile. The highest and lowest median tax bills are both $616, found in zip code 73075. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage their tax burden effectively.
Average Pauls Valley Assessed Value
$89,332
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 Pauls Valley, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73075 | $39,328 | $57,204 | $89,332 | $161,717 | $252,185 |
Source: Ownwell
Property Tax Bills Across Pauls Valley, Oklahoma
In Pauls Valley, located in Garvin 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 property's market value. Homeowners in Pauls Valley typically see a median property tax bill of $616, significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and the local tax rate. For instance, homes in the 25th percentile of tax bills pay around $364, while those in the 75th percentile pay approximately $1,097. At the higher end, the 90th percentile tax bill reaches $1,828. These variations highlight how differences in property values and exemptions impact individual tax obligations. For homeowners, understanding these factors is crucial as they directly affect annual expenses. Lower property taxes in Pauls Valley can make homeownership more affordable compared to regions with higher tax rates.
Average Pauls Valley Tax Bill
$616
Average Garvin County Tax Bill
$559
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Pauls Valley, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73075 | $226 | $364 | $616 | $1,097 | $1,828 |
Source: Ownwell