Harmon County, Oklahoma Property Taxes
The median property tax rate in Harmon County is 1.09%, which is higher than both the national median of 0.99% and Oklahoma's state median of 0.97%. With the median home value in Harmon County at $33,150, the typical annual property tax bill is $322, significantly below the national median of $2,690. Property taxes in Harmon County are calculated based on the tax assessed value, which typically falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Harmon County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Hollis or another part of Harmon County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harmon County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$361
$335
Ownwell’s Harmon County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Harmon County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Harmon County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Harmon County, Oklahoma
Property taxes in Harmon County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Harmon County is 1.09%, which is higher than the U.S. national median of 0.99%. Local government entities within Harmon County set these rates annually, and they can vary significantly between different areas within the county. Each year, Harmon County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Mangum has one of the higher property tax rates in Oklahoma at 1.19%, while the city of Gould boasts one of the lowest at 0.90%. Analyzing how Harmon County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Harmon County Tax Rate
1.09%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Harmon County, Oklahoma
In Harmon County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Harmon County Appraisal District. The assessed value, however, 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. Assessment notices in Harmon County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. The city with the highest median tax bill in Harmon County is Mangum at $932, while Gould has the lowest at $292. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Harmon County Assessed Value
$33,150
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Bills Across Harmon County, Oklahoma
In Harmon County, OK, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Several factors influence this valuation, including the property's location, size, and condition. Once the assessed value is determined, local tax rates are applied to calculate the final tax bill. Homeowners in Harmon County experience a range of property tax bills. For instance, the 25th percentile tax bill is $143, while the 75th percentile tax bill is $652. At the higher end, the 90th percentile tax bill reaches $1,299. The median home price in the county is $33,150, significantly lower than the national median, which contributes to relatively lower tax bills compared to the national median property tax rate of 0.99%. Homeowners in cities like Mangum and Gould see varying median tax bills, with Mangum having the highest median at $932 and Gould the lowest at $292. These variations affect homeowners' financial planning and the overall affordability of living in different parts of the county.
Average Harmon County Tax Bill
$322
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690