Morrison, Noble County, Oklahoma Property Taxes
Median Morrison, OK effective property tax rate: 1.12%, significantly higher than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Morrison, OK home value: $91,809
Median annual Morrison, OK tax bill: $977, $1,423 lower than the national median property tax bill of $2,400.
How are property taxes in Noble County calculated?
Property taxes in Morrison, 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 Morrison’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Morrison, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Morrison, Noble County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.12%
Estimate Property Tax Bill
$1,028
$954
Property Tax Rates Across Morrison, Noble County, Oklahoma
Local government entities set tax rates, which can vary widely within a state. 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 Morrison in Noble County in Oklahoma, the effective property tax rate stands at 1.12%. This rate mirrors the highest and lowest median tax rates in the state, emphasizing a consistency in tax rates across the region. When compared to the national median property tax rate of 1.02%, Morrison's rate is slightly higher, suggesting a more substantial contribution towards local services and infrastructure. Despite this, the median property tax bill in Morrison remains competitive, especially when contrasted with the national median bill of $2,400. Analyzing these figures helps residents and potential homeowners understand the financial landscape of Morrison and make informed decisions regarding property investments.
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 Morrison Tax Rate
1.12%
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 Noble County Tax Rate
0.91%
Median Effective Oklahoma Tax Rate
0.97%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Morrison, Noble County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73061 | 0.84% | 1.02% | 1.12% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Morrison, Noble County, Oklahoma
When examining property taxes in Morrison, 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 Noble 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 Noble County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Morrison. For example, the median home price in Morrison is $91,809, with tax bills ranging significantly across the county. 73061 has the highest median home price at $91,809.
Property Tax Assessment Values Across Morrison, Noble County, Oklahoma
Source: Ownwell
$24,112
$91,479
$158,845
Median Morrison Market Value
$91,809
Median Noble County Market Value
$78,656
Median Oklahoma Market Value
$137,280
Median United States Market Value
$235,294
Property Tax Assessment Values Across Morrison, Noble County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73061 | $34,437 | $62,206 | $91,809 | $174,475 | $262,554 |
Source: Ownwell
Property Tax Bills Across Morrison, Noble County, Oklahoma
In Morrison, Noble County, OK, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. Factors such as property type, location, and improvements can influence this assessed value. The property tax rate is then applied to this assessed value to determine the final tax bill. Homeowners in Morrison face property tax bills that range significantly, with the 25th percentile at $620 and the 90th percentile reaching $2,984. Comparatively, the national median property tax bill stands at $2,400, highlighting the range of tax burdens within Morrison.
Ownwell assists homeowners by providing expert property tax appeal services, potentially lowering their tax obligations. By analyzing property assessments and identifying discrepancies or overvaluations, Ownwell helps ensure that homeowners are not overpaying on their property taxes. This service can lead to significant savings, offering financial relief and peace of mind to property owners in Morrison.
Median Morrison Tax Bill
$977
Median Noble County Tax Bill
$666
Median Oklahoma Tax Bill
$1,269
Median United States Tax Bill
$2,400
Property Tax Bills Across Morrison, Noble County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73061 | $329 | $620 | $977 | $1,878 | $2,984 |
Source: Ownwell