This information was posted by the McClain County Assessor’s office as a look at some Oklahoma municipalities’ property taxes, to show how they can be different from community to community based on the school districts’ millage rates.
The information states, “When it comes to property taxes, a common belief is that your property value is the only factor that determines how much you will pay in property taxes. Not true.
“Property tax is determined by two components: your property value (decided by the current market trends) and the one usually left out, your school district millage rate.”
The Assessor’s office states, “Allow us to use a $500,000 primary residence as an example to show just how $500,000 in one school district does not generate the same tax bill in another school district.”
The Assessor’s office states, “The same exact home value in the samples provided can generate a tax bill in the range of $3,337 to $7,728. A difference of where your home sits could mean a difference in your taxes up to $4,391 from one end of the spectrum to the other.
The information states that the single biggest variable between the sample districts provided is the school sinking fund or bonds.
“It is important to understand what drives that sinking fund,andstayinginvolvedwith your schools and school board meetings,toknowwhatchanges may be taking place when it comes to your property taxes,” the information states.
You can also read the Newcastle Pacer, because any bond issue proposals, plans or elections, are reported in depth, from beginning discussion to conclusion.
