Maud, Seminole County, Oklahoma Property Taxes
The median property tax rate in Maud, OK is 0.59%, which is significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. Given the median home value in Maud is $68,663, the typical annual property tax bill amounts to $406, well below the national median of $2,690. Property taxes in Maud are determined based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Familiarizing yourself with Maud's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Maud or another part of Seminole County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maud, Seminole County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$405
$376
Ownwell’s Maud Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maud with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maud 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 Maud, Seminole County, Oklahoma
Property taxes in Maud, Oklahoma, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Maud is 0.59%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Maud set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maud 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 Maud's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74854 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Maud provides valuable insights into the varying tax landscape across Seminole County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maud Tax Rate
0.59%
Average Seminole County Tax Rate
0.75%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maud, Seminole County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74854 | 0.32% | 0.47% | 0.59% | 0.75% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Maud, Seminole County, Oklahoma
In Maud, 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 Seminole 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 Maud, 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 Maud helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Maud are both $406, found in the zip code 74854.
Property Tax Assessment Values Across Maud, Seminole County, Oklahoma
Source: Ownwell
$48,388
$82,567
$116,746
Average Maud Assessed Value
$68,663
Average Seminole County Assessed Value
$62,317
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maud, Seminole County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74854 | $21,020 | $37,525 | $68,663 | $107,544 | $177,813 |
Source: Ownwell
Property Tax Bills Across Maud, Seminole County, Oklahoma
In Maud, located in Seminole County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Maud stands at $68,663. Property tax rates are applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For homeowners, the tax bill can vary significantly. For instance, in Seminole County, the 25th percentile tax bill is $232, while the 75th percentile tax bill reaches $709. At the 90th percentile, it can be as high as $1,198. The highest median tax bill in the area is $406, which is notably lower than the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Maud Tax Bill
$406
Average Seminole County Tax Bill
$442
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Maud, Seminole County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74854 | $94 | $232 | $406 | $709 | $1,198 |
Source: Ownwell