Pocasset, Oklahoma Property Taxes
The median property tax rate in Pocasset, OK is 0.84%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $130,052 in Pocasset, the typical annual property tax bill comes to $1,023, significantly below the national median of $2,690. Property taxes in Pocasset are determined based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural land. By understanding Pocasset's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in Pocasset's core or another area within Grady County, gaining insight into the local property tax structure is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Pocasset, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$1,092
Ownwell’s Pocasset Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pocasset with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pocasset 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 Pocasset, Oklahoma
Property taxes in Pocasset, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pocasset is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Pocasset set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pocasset 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 Pocasset's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73079 has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Pocasset provides valuable insights into the varying tax landscape across Grady County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pocasset Tax Rate
0.84%
Average Grady County Tax Rate
1.03%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pocasset, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73079 | 0.32% | 0.61% | 0.84% | 1.05% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Pocasset, Oklahoma
In Pocasset, 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 Grady 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 Pocasset, 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. For example, the median home price in Pocasset is $130,052, with tax bills ranging from $516 at the 25th percentile to $3,130 at the 90th percentile. The highest and lowest median tax bill in the region is $1,023 in the 73079 zip code. 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 the tax burden effectively.
Average Pocasset Assessed Value
$130,052
Average Grady County Assessed Value
$126,704
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pocasset, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73079 | $45,337 | $76,586 | $130,052 | $229,312 | $335,435 |
Source: Ownwell
Property Tax Bills Across Pocasset, Oklahoma
In Pocasset, located in Grady County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local government determines the assessed value, and then the property tax rate, set by the county, is applied. For instance, the median home price in Pocasset is $130,052. Factors such as property condition, location, and comparable property values in the area are considered when determining the assessed value. Homeowners in Pocasset experience a range of property tax bills. The 25th percentile tax bill is around $516, while the 75th percentile tax bill can reach up to $1,840. For those at the higher end, the 90th percentile tax bill can be as high as $3,130. These taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Pocasset's property taxes can vary significantly, impacting homeowners' annual financial planning.
Average Pocasset Tax Bill
$1,023
Average Grady County Tax Bill
$1,186
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Pocasset, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73079 | $227 | $516 | $1,023 | $1,840 | $3,130 |
Source: Ownwell