Marble City, Oklahoma Property Taxes
The median property tax rate in Marble City, OK is 0.57%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Marble City, the typical annual property tax bill is $197, well below the national median of $2,690. Property taxes in Marble City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Marble City'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 Marble City or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marble City, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$217
Ownwell’s Marble City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marble City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marble City 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 Marble City, Oklahoma
Property taxes in Marble City, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marble City is 0.57%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Marble City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marble City 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 Marble City's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74945 has both the highest and lowest median property tax rate of 0.57%. Understanding how these cities compare with Marble City 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 Marble City Tax Rate
0.57%
Average Sequoyah County Tax Rate
0.74%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marble City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74945 | 0.26% | 0.36% | 0.57% | 0.74% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Marble City, Oklahoma
In Marble City, 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 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 Marble City, 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 Marble City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Marble City, the zip code 74945 has both the highest and lowest median tax bill, which is $197.
Average Marble City Assessed Value
$38,017
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 Marble City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74945 | $5,312 | $24,282 | $38,017 | $63,245 | $84,001 |
Source: Ownwell
Property Tax Bills Across Marble City, Oklahoma
In Marble City, Sequoyah County, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local tax assessor and reflects a percentage of your home's market value. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. Several factors influence the assessed value, including the size of your property, its location, and any improvements or renovations made. For example, the median home price in Marble City is $38,017, and homeowners can expect to see tax bills ranging from the 25th percentile at $93 to the 90th percentile at $616. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure. Homeowners in Marble City should be aware that their tax bills can fluctuate based on changes in property values and local tax rates, directly impacting their annual financial obligations.
Average Marble City Tax Bill
$197
Average Sequoyah County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Marble City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74945 | $42 | $93 | $197 | $416 | $616 |
Source: Ownwell