Tuskahoma, Oklahoma Property Taxes
The median property tax rate in Tuskahoma, OK is 0.71%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value in Tuskahoma of $69,406, the typical annual property tax bill reaches $453, significantly below the national median of $2,690. Property taxes in Tuskahoma 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 Tuskahoma'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 Tuskahoma or another part of Pushmataha County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tuskahoma, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$493
-$5,164
Ownwell’s Tuskahoma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tuskahoma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tuskahoma 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 Tuskahoma, Oklahoma
Property taxes in Tuskahoma, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tuskahoma is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Tuskahoma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tuskahoma 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 Tuskahoma's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74574 zip code has both the highest and lowest median property tax rate of 0.71%. Understanding how these areas compare with Tuskahoma provides valuable insights into the varying tax landscape across Pushmataha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tuskahoma Tax Rate
0.71%
Average Pushmataha County Tax Rate
0.56%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tuskahoma, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74574 | 0.36% | 0.50% | 0.71% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Tuskahoma, Oklahoma
In Tuskahoma, 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 Pushmataha County Appraisal District 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 Tuskahoma, 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 Tuskahoma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74574 has the highest and lowest median tax bills at $453.
Average Tuskahoma Assessed Value
$69,406
Average Pushmataha County Assessed Value
$75,969
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tuskahoma, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74574 | $26,491 | $39,711 | $69,406 | $110,029 | $163,712 |
Source: Ownwell
Property Tax Bills Across Tuskahoma, Oklahoma
In Tuskahoma, located in Pushmataha County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $69,406, the tax bill can vary significantly. The 25th percentile tax bill is around $226, while the 75th percentile reaches up to $750, and the 90th percentile can go as high as $1,220. These variations depend on several factors, including the property's assessed value and the local tax rate. The local tax rate in Pushmataha County influences how much homeowners pay annually. Compared to the national median property tax rate of 0.99%, Tuskahoma's property tax bills reflect a more localized calculation, resulting in a median tax bill of $453 in the zip code 74574. This financial obligation impacts homeowners by contributing to local services and infrastructure, making it essential to understand how these taxes are determined and how they affect household budgets.
Average Tuskahoma Tax Bill
$453
Average Pushmataha County Tax Bill
$395
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Tuskahoma, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74574 | $100 | $226 | $453 | $750 | $1,220 |
Source: Ownwell