Purcell, Oklahoma Property Taxes
The median property tax rate in Purcell, OK is 0.87%, 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 Purcell, the typical annual property tax bill reaches $1,236, significantly below the national median of $2,690. Property taxes in Purcell are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Purcell'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 Purcell or another part of McClain County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Purcell, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,437
-$15,062
Ownwell’s Purcell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Purcell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Purcell 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 Purcell, Oklahoma
Property taxes in Purcell, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Purcell is 0.87%, lower than the U.S. national median of 0.99%. Local government entities within Purcell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Purcell 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 Purcell's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73080 zip code has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Purcell 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 Purcell Tax Rate
0.87%
Average Mcclain County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Purcell, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73080 | 0.42% | 0.62% | 0.87% | 1.07% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Purcell, Oklahoma
In Purcell, 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 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 Purcell, 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 Purcell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Purcell is $165,192, with tax bills ranging from $610 at the 25th percentile to $3,599 at the 90th percentile. The zip code with the highest median tax bill is 73080, which is also the one with the lowest median tax bill, both at $1,236.
Average Purcell Assessed Value
$165,192
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 Purcell, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73080 | $54,095 | $97,397 | $165,192 | $259,550 | $370,495 |
Source: Ownwell
Property Tax Bills Across Purcell, Oklahoma
In Purcell, located in McClain County, OK, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, the median home price in Purcell is $165,192, and property tax bills can vary significantly. The 25th percentile tax bill is $610, while the 75th percentile reaches $2,317, and the 90th percentile can be as high as $3,599. Comparatively, the national median property tax rate is 0.99%, but local rates and assessed values can cause substantial differences in tax bills. For homeowners in Purcell, understanding these factors is crucial as they directly impact annual financial planning and the overall cost of homeownership. The highest and lowest median tax bills in the area, both at $1,236, highlight the range of property tax liabilities residents might face.
Average Purcell Tax Bill
$1,236
Average Mcclain County Tax Bill
$1,871
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Purcell, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73080 | $347 | $610 | $1,236 | $2,317 | $3,599 |
Source: Ownwell