Claremore, Oklahoma Property Taxes
The median property tax rate in Claremore, OK is 0.94%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Claremore at $162,917, the typical annual property tax bill amounts to $1,524, which is significantly lower than 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 such as primary residence and agricultural exemptions. By understanding Claremore's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Claremore or another part of the city, familiarizing yourself with the local property tax system will provide considerable financial benefits.
Last Updated June 14, 2024
Claremore, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$1,531
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, 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 0.94%, slightly below 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 counties in Oklahoma and the national median. For comparison, the 74019 zip code has the highest median property tax rate of 0.94%, while the same zip code also has the lowest median tax rate of 0.94%. Understanding how these cities compare with Claremore provides valuable insights into the varying tax landscape across Rogers County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Claremore Tax Rate
0.94%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Claremore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74019 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Claremore, 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 McIntosh 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 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 $162,917, with the median tax bill at $1,524. 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 Claremore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Claremore Assessed Value
$162,917
Average Mcintosh County Assessed Value
$81,769
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Claremore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74019 | $162,917 | $162,917 | $162,917 | $162,917 | $162,917 |
Source: Ownwell
Property Tax Bills Across Claremore, Oklahoma
In Claremore, located in McIntosh County, OK, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value typically represents a percentage of the property's market value. This value is then multiplied by the local tax rate to determine the annual tax bill. Factors that influence the assessed value include the property's size, location, and any improvements or renovations made. For homeowners in Claremore, the median home price is $162,917. The tax bill for the 25th, 75th, and 90th percentiles all stand at $1,524, which indicates a uniform tax rate application across different property values. This uniformity simplifies the understanding of tax obligations for homeowners. Compared to the national median property tax rate of 0.99%, Claremore's property tax rate results in a relatively predictable and consistent tax bill, providing financial stability for homeowners. This consistency in tax bills can be beneficial for budgeting and long-term financial planning.
Average Claremore Tax Bill
$1,524
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Claremore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74019 | $1,524 | $1,524 | $1,524 | $1,524 | $1,524 |
Source: Ownwell