Many of my phone calls are from folks that live in a state other than Oklahoma. They are either moving here due to jobs, family, etc, or they are considering moving here as a retirement location.
Tax concerns are sometimes different for the two scenarios but not always.
My objective is to bring together some information here in this post for you who are moving to Oklahoma, in particular, Southeast Oklahoma.
For income tax information, the state of Oklahoma has a simple page with easy to understand charts. Just follow the link.
Sales taxes are a little different… Some of it is based on the city’s rate, some of it on the county’s rate, and some n the state of Oklahoma’s rate. There doesn’t seem to be a chart anywhere that states the total that you would pay for different locations. Let me just say that most of them are between 9 and 10 percent total in the towns in our area. Oklahoma charges sales tax on food, but Texas that is about 20 miles south of us does not.
Ad valorem taxes are a little more complicated. The tax amount takes into consideration 4 things: (1) The market value of the property, (2) The assessment rate in Oklahoma, (3) The exemptions that are allowed and that you file for, and (4) The millage rate for your location.
Most of the time, in our area, when you purchase a property, it is re-assessed for ad valorem taxes (property taxes). The deed that is filed at the county courthouse has documentary stamps put on it when it is filed, based upon the sales amount. That is the amount that is often used as the “market value”.
In Choctaw County and McCurtain County, at this time, the assessment rate is 11%. So multiply the sales amount by 11% to get your assessed value.
Now you substract any exemptions that you qualify for and have been approved for, by your county. Those can include homestead exemption, additional homestead exemption based upon income, disabled veteran exemption, and you may qualify for the senior citizen valuation freeze. Ask the tax assessor about qualifications for these and forms. Their numbers are below.
After deducting your exemptions, you multiply the amount remaining by the millage rate for your location. That varies with school districts. The best way is to call your tax assessor and ask for that rate…. But even better is to just ask them how much your taxes would be for property that sold at the amount you are considering paying for your purchase… saves you the trouble of going through all of these calculations. The McCurtain County Tax Assessor’s phone number is 580-286-5272. The Choctaw County Tax Assessor’s phone number is 580-326-2358.
Oklahoma has an excellent pamphlet on ad valorem taxes, if you’ll email me, I’ll be happy to email you a copy of it.
So there you have it. Remember that paying taxes is one of the two things you can’t avoid in life, but the tax rates in Oklahoma seem to be lower than many states.If I can help you with more information, please call me.
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Other helpful posts on moving to Oklahoma:
McCurtain and Choctaw Counties Relocation Package
Relocating to McCurtain or Choctaw County? Education Opportunities
Relocating to McCurtain County? Idabel, Oklahoma offers options for 4 year degree programs.
Finding the Right Mortgage Comes Before Finding the Right House- - Relocating to my area? Ask me about lenders. Scan the list!
Relocating to McCurtain County, Oklahoma - Information on McCurtain Memorial Hospital
Relocating to Choctaw County? You must visit Raymond Gary State Park
Planning a Move to Fort Towson, Oklahoma or Lake Raymond Gary? Play Golf? Golfing Choices Around Fort Towson and Lake Raymond Gary
Eating Out in Fort Towson, Oklahoma – a real surprise, but a pleasant one.
Relocating to Lake Raymond Gary? Or Fort Towson, Oklahoma? Have School Aged Children? School Information Just For You!
Building Restrictions for Additions Around Lake Raymond Gary
For History Buffs Relocating to Fort Towson,OK.
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Life in Southeast Oklahoma is GREAT! If you're looking for a home or land in my part of the country, give me a call: Judi Barrett, broker, Integrity Real Estate Services, 580-212-5946. Or visit one of our websites:
Integrity Real Estate Services
Our Name Says It All.
Real Estate Services You Can Trust.
580-212-5946
© Copyright 2009 Judi Barrett, Integrity Real Estate Services
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I love sharing Southeast Oklahoma with you. It is my desire that you will find something in the "Life in Southeast Oklahoma" blog posts that will:
- Entice you to visit our area if you're not already living here.
- Maybe encourage you to attend an event that is planned in our great corner of the world.
- Point out a restaurant that serves up good food.
- Invite you to enjoy our beautiful country-side, lakes, or streams...
Southeast Oklahoma is endlessly varied and has so much to offer. It's my desire to bring those things out.
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Use the comment section below and let me know.
Join me in Southeast Oklahoma, where life usually moves at a little slower pace, the people are wonderful, the landscape can be breathtaking.
We love where we live!
Judi Barrett, broker, Integrity Real Estate Services, 580-212-5946
Call me and let's visit about McCurtain County or Choctaw County. The fartherest southeast you can go in Oklahoma and still be in Oklahoma.
We are SOUTHEAST OKLAHOMA.
Judi Barrett
Broker - Integrity Real Estate Services
Our Name Says It All.
Real Estate Services You Can Trust.
580-212-5946
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For information in my area, call me. If I don't know the answer, I'll still try to help you find it.
Judi, this kind of information is very helpful. I would also add that our property tax rates are low compared to Texas becasue they do not have income tax so they depend on owners but not renters to pay for government. Our state just lowered income taxes again, so we are one of the lowest overall taxed states in the U.S. I also own two homes in Louisiana, and from personal experience I can say that our insurance rates are also very low in comparison to others.
Joe, Thank you. I know that we all get these kinds of questions, which is good. I want my customers and clients to ask questions.