Claremore, Mayes County, Oklahoma Property Taxes
The median property tax rate in Claremore, OK is 0.56%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Claremore at $140,138, the typical annual property tax bill is $679, well below the national median of $2,690. Property taxes in Claremore are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Claremore'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 Claremore 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
Claremore, Mayes County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$785
$728
Ownwell’s Claremore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Claremore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Claremore 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 Claremore, Mayes County, Oklahoma
Property taxes in Claremore, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Claremore is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Claremore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Claremore 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 Claremore's effective property tax rate to other areas and the national median. For comparison, the zip code 74019 has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these areas compare with Claremore provides valuable insights into the varying tax landscape across Mayes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Claremore Tax Rate
0.56%
Average Mayes County Tax Rate
0.66%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Claremore, Mayes County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74019 | 0.23% | 0.41% | 0.56% | 0.85% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Claremore, Mayes County, Oklahoma
In Claremore, 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 Mayes County Appraisal District 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 Claremore, 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. The median home price in Claremore is $140,138, with tax bills ranging from $332 at the 25th percentile to $1,720 at the 90th percentile. The highest and lowest median tax bills in the area are both $679, found in the 74019 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 effectively manage the tax burden.
Property Tax Assessment Values Across Claremore, Mayes County, Oklahoma
Source: Ownwell
$63,166
$311,123
$559,080
Average Claremore Assessed Value
$140,138
Average Mayes County Assessed Value
$160,424
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Claremore, Mayes County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74019 | $34,894 | $60,898 | $140,138 | $258,546 | $437,056 |
Source: Ownwell
Property Tax Bills Across Claremore, Mayes County, Oklahoma
In Claremore, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. The assessed value is a percentage of your property's market value, and this figure is then multiplied by the local tax rate to determine your annual tax bill. For homeowners in Claremore, the median home price is $140,138. Property tax bills in this area range widely, with the 25th percentile at $332 and the 75th percentile at $1,438, reflecting varying property values and tax rates within the region. The 90th percentile tax bill can reach up to $1,720. Homeowners in Claremore should be aware that their property tax bills can significantly impact their annual expenses. For instance, the highest median tax bill in the area is $679, found in the 74019 zip code. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens. Understanding these factors can help homeowners better manage their finances and anticipate annual property tax obligations.
Average Claremore Tax Bill
$679
Average Mayes County Tax Bill
$998
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Claremore, Mayes County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74019 | $204 | $332 | $679 | $1,438 | $1,720 |
Source: Ownwell