Maramec, Oklahoma Property Taxes
The median property tax rate in Maramec, OK is 1.04%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $61,200 in Maramec, the typical annual property tax bill is $568, which is significantly lower than the national median of $2,690. Property taxes in Maramec are calculated based on the assessed value, which is often below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Maramec'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 Maramec or another part of Pawnee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maramec, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$636
Ownwell’s Maramec Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maramec with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maramec 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 Maramec, Oklahoma
Property taxes in Maramec, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maramec is 1.04%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Maramec set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maramec 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 Maramec's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74045 zip code has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with Maramec provides valuable insights into the varying tax landscape across Pawnee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maramec Tax Rate
1.04%
Average Pawnee County Tax Rate
0.99%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maramec, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74045 | 0.53% | 0.73% | 1.04% | 1.18% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Maramec, Oklahoma
In Maramec, 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 Pawnee County Assessor's Office 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 Maramec, 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 Maramec helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the median home price in Maramec is $61,200, with the highest median tax bill recorded at $568 in zip code 74045.
Average Maramec Assessed Value
$61,200
Average Pawnee County Assessed Value
$70,521
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maramec, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74045 | $19,913 | $32,719 | $61,200 | $100,154 | $193,990 |
Source: Ownwell
Property Tax Bills Across Maramec, Oklahoma
In Maramec, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. For example, with a median home price of $61,200, the assessed value is used to calculate the tax bill. Various factors are considered, including property location, size, and improvements. Homeowners in Maramec can expect their property tax bills to vary significantly. At the 25th percentile, tax bills are around $269, while at the 75th percentile, they can reach up to $1,036. For those at the 90th percentile, tax bills can be as high as $2,213. The median tax bill in the area is $568, aligning with the zip code 74045. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the community. Compared to the national median property tax rate of 0.99%, Maramec’s property tax rates can be seen as relatively moderate, providing a balanced approach to funding local needs without overburdening homeowners.
Average Maramec Tax Bill
$568
Average Pawnee County Tax Bill
$656
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Maramec, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74045 | $126 | $269 | $568 | $1,036 | $2,213 |
Source: Ownwell