Gore, Oklahoma Property Taxes
The median property tax rate in Gore, OK is 0.54%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Gore at $107,145, the typical annual property tax bill reaches $598, significantly below the national median of $2,690. Property taxes in Gore are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gore'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 Gore 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
Gore, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$579
-$6,064
Ownwell’s Gore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gore 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 Gore, Oklahoma
Property taxes in Gore, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gore is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Gore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gore 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 Gore's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74435 zip code has both the highest and lowest median property tax rate of 0.54%. Understanding how these areas compare with Gore provides valuable insights into the varying tax landscape across Muskogee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gore Tax Rate
0.54%
Average Muskogee County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74435 | 0.20% | 0.37% | 0.54% | 0.75% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Gore, Oklahoma
In Gore, 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 Muskogee 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 Gore, 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. The median home price in Gore is $107,145, and the median tax bill ranges from $248 at the 25th percentile to $2,076 at the 90th percentile. The zip code 74435 has the highest and lowest median tax bill at $598. Being aware of these valuation processes in Gore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gore Assessed Value
$107,145
Average Muskogee County Assessed Value
$87,404
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74435 | $33,045 | $66,362 | $107,145 | $171,076 | $251,336 |
Source: Ownwell
Property Tax Bills Across Gore, Oklahoma
In Gore, Muskogee County, Oklahoma, property tax bills are calculated based on the assessed value of your home. The assessed value is derived from the market value, which is then multiplied by an assessment ratio determined by the state. For example, if your home has a median market value of $107,145, the tax bill can vary significantly depending on specific factors such as exemptions and local tax rates. Tax bills in Gore show a wide range, with the 25th percentile at $248 and the 75th percentile at $1,074. The highest tax bills, reaching up to the 90th percentile, can be as much as $2,076. This variation indicates that while some homeowners may find their tax bills relatively manageable, others may face higher financial burdens. Compared to the national median property tax rate of 0.99%, Gore’s property tax rates can be seen as relatively moderate. However, individual circumstances, such as property value and available exemptions, significantly influence the final tax bill. This system ensures that property taxes are proportionate to the homeowner's property value, impacting their annual financial planning.
Average Gore Tax Bill
$598
Average Muskogee County Tax Bill
$663
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Gore, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74435 | $97 | $248 | $598 | $1,074 | $2,076 |
Source: Ownwell