Hollis, Harmon County, Oklahoma Property Taxes
Median Hollis, OK effective property tax rate: 1.09%, significantly higher than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Hollis, OK home value: $30,263
Median annual Hollis, OK tax bill: $299, $2,101 lower than the national median property tax bill of $2,400.
How are property taxes in Harmon calculated?
Property taxes in Hollis, OK are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Hollis’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hollis, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hollis, Harmon County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1%
Estimate Property Tax Bill
$337
$313
Property Tax Rates Across Hollis, Harmon County, Oklahoma
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Hollis, located in Harmon County, Oklahoma, the effective property tax rate stands at 1.09%. This rate is slightly above the national median property tax rate of 1.02%. Despite being higher than the national median, Hollis's rate is consistent with the state's median, reflecting a balanced approach to funding local services. The property tax rate in Hollis is a crucial factor for homeowners, as it directly impacts the annual tax bill, which is an essential consideration in homeownership costs. Comparing Hollis’s rate to the national landscape, homeowners can appreciate the local governance’s efforts to maintain competitive rates while ensuring adequate funding for community services.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Hollis Tax Rate
1.00%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Harmon County Tax Rate
1.02%
Median Effective Oklahoma Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hollis, Harmon County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73550 | 0.51% | 0.73% | 1.00% | 1.18% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Hollis, Harmon County, Oklahoma
When examining property taxes in Hollis, Oklahoma, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Harmon County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Harmon County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Hollis. For example, the median home price in Hollis is $30,263, with tax bills ranging significantly across the county. Zip code 73550 has the highest median home price at $30,263.
Property Tax Assessment Values Across Hollis, Harmon County, Oklahoma
Source: Ownwell
$33,714
$50,372
$67,030
Median Hollis Market Value
$33,714
Median Harmon County Market Value
$36,024
Median Oklahoma Market Value
$160,842
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hollis, Harmon County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73550 | $10,442 | $18,834 | $33,714 | $62,114 | $124,216 |
Source: Ownwell
Property Tax Bills Across Hollis, Harmon County, Oklahoma
Median Hollis Tax Bill
$312
Median Harmon County Tax Bill
$337
Median Oklahoma Tax Bill
$1,339
Median United States Tax Bill
$2,400
Property Tax Bills Across Hollis, Harmon County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73550 | $78 | $139 | $312 | $640 | $1,177 |
Source: Ownwell