Muse, Oklahoma Property Taxes
The median property tax rate in Muse, Oklahoma is 0.60%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Muse at $71,942, the typical annual property tax bill is around $412, well below the national median of $2,690. Property taxes in Muse are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Muse'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 Muse or another part of Le Flore County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Muse, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$432
Ownwell’s Muse Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Muse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Muse 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 Muse, Oklahoma
Property taxes in Muse, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Muse is 0.60%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Muse set these rates annually, and they can vary significantly across different neighborhoods. Each year, Muse 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 Muse's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74949 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Muse 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 Muse Tax Rate
0.60%
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 Muse, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74949 | 0.38% | 0.51% | 0.60% | 0.68% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Muse, Oklahoma
In Muse, 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 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 Muse, 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 Muse helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74949 has both the highest and lowest median tax bill at $412, reflecting the consistent property values in the area.
Average Muse Assessed Value
$71,942
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 Muse, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74949 | $31,399 | $47,417 | $71,942 | $116,558 | $155,779 |
Source: Ownwell
Property Tax Bills Across Muse, Oklahoma
In Muse, 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 assessed value is then multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $71,942, homeowners in Muse can expect a median property tax bill around $412. This figure is relatively low compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property assessments, local tax rates, and applicable exemptions. Homeowners in Muse may find that their tax bills fall within a range, with the 25th percentile at $294 and the 75th percentile at $667. For those at the 90th percentile, tax bills can reach up to $1,212. Understanding these factors helps homeowners budget accordingly and anticipate potential changes in their tax obligations, ensuring they are prepared for any financial impact.
Average Muse Tax Bill
$412
Average Le Flore County Tax Bill
$517
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Muse, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74949 | $207 | $294 | $412 | $667 | $1,212 |
Source: Ownwell