Leflore, Le Flore County, Oklahoma Property Taxes
The median property tax rate in Leflore, OK is 0.77%, 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 Leflore at $57,170, the typical annual property tax bill is around $459, significantly below the national median of $2,690. Property taxes in Leflore are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Leflore'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 Leflore 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
Leflore, Le Flore County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$440
$409
Ownwell’s Leflore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leflore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leflore 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 Leflore, Le Flore County, Oklahoma
Property taxes in Leflore, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leflore is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Leflore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leflore 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 Leflore's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74942 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Leflore 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 Leflore Tax Rate
0.77%
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 Leflore, Le Flore County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74942 | 0.47% | 0.56% | 0.77% | 0.99% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Leflore, Le Flore County, Oklahoma
In Leflore, 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 local 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 Leflore, 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 Leflore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both at $459, are found in the 74942 zip code.
Property Tax Assessment Values Across Leflore, Le Flore County, Oklahoma
Source: Ownwell
$37,334
$67,001
$96,667
Average Leflore Assessed Value
$57,170
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 Leflore, Le Flore County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74942 | $30,269 | $33,392 | $57,170 | $95,948 | $119,087 |
Source: Ownwell
Property Tax Bills Across Leflore, Le Flore County, Oklahoma
In Leflore, Oklahoma, property tax bills are calculated based on the assessed value of a property, which is typically a fraction of its market value. The assessed value is then multiplied by the local property tax rate to determine the tax bill. For example, with a median home price of $57,170, homeowners can expect a range of tax bills depending on their property's assessment and specific tax rate. Several factors influence the tax bill, including property location, improvements, and any applicable exemptions. In Leflore, the 25th percentile tax bill is around $216, while those in the 75th percentile pay approximately $915. The top 10% of homeowners face tax bills nearing $1,006. For homeowners, understanding these calculations is crucial, as property taxes can significantly impact annual expenses. Leflore's property tax rates can be compared to the national median rate of 0.99%, offering a perspective on local tax burdens relative to broader trends.
Average Leflore Tax Bill
$459
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Leflore, Le Flore County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74942 | $174 | $216 | $459 | $915 | $1,006 |
Source: Ownwell