Gore, Sequoyah County, Oklahoma Property Taxes
The median property tax rate in Gore, OK is 0.98%, which is just under the national median of 0.99% but slightly above the Oklahoma state median of 0.97%. With the median home value in Gore at $62,950, the typical annual property tax bill amounts to $563, significantly lower than the national median of $2,690. Property taxes in Gore are calculated based on the tax assessed value, which often falls below the market value due to 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, Sequoyah County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$617
$572
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, Sequoyah County, 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 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Gore set these rates annually, and they can vary 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 areas in Sequoyah County and the national median. For comparison, the zip code 74435 has a median property tax rate of 0.98%. Understanding how these areas compare with Gore provides valuable insights into the varying tax landscape across Sequoyah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gore Tax Rate
0.98%
Average Sequoyah County Tax Rate
0.74%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gore, Sequoyah County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74435 | 0.47% | 0.79% | 0.98% | 1.05% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Gore, Sequoyah County, 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 Sequoyah 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. Being aware of these valuation processes in Gore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Gore are both recorded at $563 in zip code 74435.
Property Tax Assessment Values Across Gore, Sequoyah County, Oklahoma
Source: Ownwell
$38,017
$68,359
$98,700
Average Gore Assessed Value
$62,950
Average Sequoyah County Assessed Value
$80,752
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gore, Sequoyah County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74435 | $18,640 | $36,975 | $62,950 | $111,150 | $189,910 |
Source: Ownwell
Property Tax Bills Across Gore, Sequoyah County, Oklahoma
In Gore, located in Sequoyah County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, with a median home price of $62,950, the assessed value is determined by local assessment rates. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include property location, local tax rates, and any applicable exemptions or deductions. For homeowners, this means the tax bill can vary significantly. In Gore, the 25th percentile tax bill is $296, while the 75th percentile reaches $1,080, and the 90th percentile goes up to $1,803. The median tax bill in the area is $563, which is lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable, but it's essential for homeowners to understand how local assessments and rates impact their specific tax obligations.
Average Gore Tax Bill
$563
Average Sequoyah County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Gore, Sequoyah County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74435 | $138 | $296 | $563 | $1,080 | $1,803 |
Source: Ownwell