Cameron, Oklahoma Property Taxes
The median property tax rate in Cameron, OK is 0.80%, 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 $65,277 in Cameron, the typical annual property tax bill amounts to $483, significantly less than the national median of $2,690. Property taxes in Cameron are based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Cameron'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 Cameron or another part of Le Flore County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cameron, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$522
Ownwell’s Cameron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cameron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cameron 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 Cameron, Oklahoma
Property taxes in Cameron, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cameron is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Cameron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cameron 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 Cameron's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 74932 zip code has the same median property tax rate of 0.80%. Understanding how these areas compare with Cameron provides valuable insights into the varying tax landscape across Le Flore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cameron Tax Rate
0.80%
Average Le Flore County Tax Rate
0.80%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cameron, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74932 | 0.51% | 0.69% | 0.80% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Cameron, Oklahoma
In Cameron, 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 Le Flore County Assessor's Office 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 Cameron, 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 Cameron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74932 in Cameron has the highest median tax bill of $483, which is significantly lower than the national median property tax rate of 0.99%.
Average Cameron Assessed Value
$65,277
Average Le Flore County Assessed Value
$72,264
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cameron, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74932 | $20,883 | $37,126 | $65,277 | $119,682 | $193,786 |
Source: Ownwell
Property Tax Bills Across Cameron, Oklahoma
In Cameron, located in Le Flore 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 tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property improvements, market conditions, and local government budgets play a role in determining the final tax amount. For homeowners in Cameron, the median home price is $65,277. Property tax bills can vary significantly, with the 25th percentile at $261 and the 75th percentile reaching $912. At the higher end, the 90th percentile tax bill can be as much as $1,553. These taxes fund essential public services, including schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Cameron's rates are relatively moderate, making it an attractive location for homeowners seeking affordable property taxes.
Average Cameron Tax Bill
$483
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Cameron, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74932 | $136 | $261 | $483 | $912 | $1,553 |
Source: Ownwell