Maysville, Oklahoma Property Taxes
The median property tax rate in Maysville, 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 Maysville at $118,145, the typical annual property tax bill is around $838, significantly less than the national median of $2,690. Property taxes in Maysville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Maysville'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 Maysville 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
Maysville, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$910
Ownwell’s Maysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maysville 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 Maysville, Oklahoma
Property taxes in Maysville, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maysville is 0.77%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Maysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maysville 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 Maysville's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73057 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 Maysville provides valuable insights into the varying tax landscape across McClain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maysville Tax Rate
0.77%
Average Mcclain County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maysville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73057 | 0.43% | 0.55% | 0.77% | 0.91% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Maysville, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Maysville, Oklahoma. 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 McClain 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 Maysville, 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 Maysville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Maysville is $118,145, with the median tax bill ranging from $467 at the 25th percentile to $3,179 at the 90th percentile. The zip code 73057 has the highest and lowest median tax bill at $838.
Average Maysville Assessed Value
$118,145
Average Mcclain County Assessed Value
$212,546
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maysville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73057 | $54,354 | $79,777 | $118,145 | $213,000 | $354,229 |
Source: Ownwell
Property Tax Bills Across Maysville, Oklahoma
In Maysville, McClain County, OK, property tax bills are determined by assessing the market value of a property and applying the local tax rate. The median home price in the area is $118,145. The tax rate is applied to this assessed value to calculate the annual property tax bill. Factors such as property location, size, and improvements can influence the assessed value, and consequently, the tax bill. Homeowners in Maysville can expect a range of tax bills. For instance, the 25th percentile tax bill is $467, indicating that a quarter of the homes have tax bills below this amount. On the higher end, the 75th percentile tax bill is $1,573, and the 90th percentile tax bill reaches $3,179. The highest and lowest median tax bills in Maysville are both $838, indicating consistency in tax assessments within the zip code 73057. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Maysville Tax Bill
$838
Average Mcclain County Tax Bill
$1,871
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Maysville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73057 | $319 | $467 | $838 | $1,573 | $3,179 |
Source: Ownwell