Example of Coal County Property Tax Calculation
In Coal County, the property tax is calculated based on the assessed value of the property. The assessed value is determined by the county assessor's office and is based on factors such as the property's size, location, and condition.
To calculate the property tax, the assessed value is multiplied by the county's tax rate. For example, if the assessed value of a property is $100,000 and the tax rate is 2%, the property tax would be $2,000 (100,000 x 0.02).
It's important to note that property taxes in Coal County can vary depending on whether the property is located within a city limits or in an unincorporated area. Additionally, certain exemptions may be available for certain types of property, such as homestead exemptions for primary residences.
Property taxes in Coal County are typically due on December 31st of each year. Failure to pay property taxes on time may result in penalties and interest charges.
If you want appeal your property tax assessment - contact your local tax assessor.
Coal County Property Tax Rates
Here is a formatted table listing the Coal County property tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $0.80 |
| County School | $0.50 |
| Municipal General | $0.60 |
| Municipal School | $0.40 |
These rates are subject to change and may vary depending on the specific location and property in Coal County. It is important to consult with a qualified tax professional for accurate and up-to-date information regarding property taxes in Coal County.
Who sets property tax rates in Coal County ?
Who Sets Property Tax Rates in Coal County?
The property tax rates in Coal County, USA are set by the county government. The County Board of Commissioners determines the property tax rates annually during their budget approval process.
The county government takes into account various factors such as the county's budget needs, economic conditions, and property values to set the appropriate tax rate.
It is important to note that property tax rates may vary within the county based on the location, property type, and other factors. Property owners can find information about their specific property tax rate on the county government website or by contacting the county assessor's office.
When is Coal County Property Tax due ?
Coal County Property Tax is typically due on December 31st of each year. This deadline is important to remember as late payments can result in penalty fees.
To make a payment, there are a few methods available:
| Payment Method | Description |
|---|---|
| Online Payment | You can pay your property tax online through the County's website. This is a convenient option for those who prefer to pay from the comfort of their own home. |
| Mail-in Payment | You can also send a check or money order by mail to the County Treasurer's Office. The address can be found on the tax bill or online. |
| In-person Payment | For those who prefer to pay in person, the County Treasurer's Office is open during business hours and accepts cash, checks, and money orders. |
It is important to note that property taxes are based on the assessed value of the property and can vary from year to year. Therefore, it is recommended to check the tax bill each year for any changes in the amount due.
In conclusion, Coal County Property Tax is typically due on December 31st and can be paid through online, mail-in or in-person methods. It is important to pay on time to avoid penalty fees.
If you have more questions - contact your local tax collector.
Homestead exemptions in Coal County ?
To help residents of Coal County in Oklahoma assess their eligibility for Homestead exemptions and deductions, here is a table with four columns outlining the specifics of these benefits:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Standard Homestead Exemption | Must be the primary resident of the property on January 1st of the tax year | Up to $1,000 of the assessed value of the property | - |
| Senior Citizen Homestead Exemption | Must be 65 years or older and have a total household income of less than $12,000 | Up to $2,000 of the assessed value of the property | Income verification required |
| Disability Homestead Exemption | Must be disabled and have a total household income of less than $20,000 | Up to $1,000 of the assessed value of the property | Disability verification and income verification required |
| Veterans Homestead Exemption | Must have served in the military and be disabled or receive a pension for their service | Up to $1,000 of the assessed value of the property | Military service and disability/pension verification required |
It's important to note that these exemptions and deductions are specific to Coal County in Oklahoma, and may differ in other counties or states. Potential beneficiaries should also be aware that the eligibility requirements and amounts of these benefits may change from year to year, and should consult with their local tax assessor's office for the most up-to-date information.
How is Coal County Property Tax penalty calculated ?
Coal County Property Tax Penalty Calculation
In Coal County, Oklahoma, property tax penalties are calculated according to a set schedule determined by the county. The penalty for late payment starts at 1% of the delinquent tax amount and increases by 1% each month until the tax is paid in full.
To better understand how this works, let's consider an example:
John owns a property in Coal County and his property tax bill is due on January 1st. However, he does not pay the taxes until March 1st, two months late. His total tax bill is $1,000. Here's how the penalty is calculated:
| Month | Penalty Rate | Penalty Amount |
|---|---|---|
| January | 0% | $0 |
| February | 1% | $10 |
| March | 2% | $20 |
In John's case, since he was two months late, the penalty rate was 2% (1% per month for two months). Therefore, his penalty amount was $20 (2% of $1,000).
It's important to note that interest is also charged on late property tax payments in Coal County. The interest rate is 1.5% per month or fraction thereof, prorated for the number of days late.
In summary, in Coal County, property tax penalties are calculated based on the amount of time the tax is late, according to a set schedule. Interest is also charged on late payments at a rate of 1.5% per month or fraction thereof, prorated for the number of days late. It's important for property owners in Coal County to pay their property taxes on time to avoid penalties and interest charges.
We recommend contacting the Coal County Tax Office or a local tax professional for the most up-to-date and accurate information.