Muldrow, Sequoyah County, Oklahoma Property Taxes
The median property tax rate in Muldrow, OK is 0.67%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Muldrow, the typical annual property tax bill amounts to $510, significantly below the national median of $2,690. Property taxes in Muldrow 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 Muldrow'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 Muldrow or another part of Sequoyah County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Muldrow, Sequoyah County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$551
$511
Ownwell’s Muldrow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Muldrow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Muldrow 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 Muldrow, Sequoyah County, Oklahoma
Property taxes in Muldrow, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Muldrow is 0.67%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Muldrow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Muldrow 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 Muldrow's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74948 has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with Muldrow 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 Muldrow Tax Rate
0.67%
Average Sequoyah County Tax Rate
0.74%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Muldrow, Sequoyah County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74948 | 0.37% | 0.51% | 0.67% | 0.77% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Muldrow, Sequoyah County, Oklahoma
In Muldrow, 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 Muldrow, 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 Muldrow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Muldrow, the zip code 74948 has the highest median tax bill at $510.
Property Tax Assessment Values Across Muldrow, Sequoyah County, Oklahoma
Source: Ownwell
$38,017
$68,359
$98,700
Average Muldrow Assessed Value
$82,263
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 Muldrow, Sequoyah County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74948 | $27,546 | $47,010 | $82,263 | $140,087 | $219,076 |
Source: Ownwell
Property Tax Bills Across Muldrow, Sequoyah County, Oklahoma
In Muldrow, located in Sequoyah County, OK, property tax bills are determined by assessing the market value of a home. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For instance, with a median home price of $82,263, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. The property tax bill in Muldrow can range widely. At the 25th percentile, homeowners might pay around $269 annually, while those at the 75th percentile could see bills as high as $916. The 90th percentile tax bill reaches up to $1,545. The highest median tax bill recorded in the area is $510, which is consistent across the 74948 zip code. These property taxes significantly impact homeowners by influencing their overall housing costs. Understanding these factors can help homeowners better manage their finances and anticipate annual expenses related to property ownership.
Average Muldrow Tax Bill
$510
Average Sequoyah County Tax Bill
$571
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Muldrow, Sequoyah County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74948 | $135 | $269 | $510 | $916 | $1,545 |
Source: Ownwell