Economic Development
- Accommodations
- Bond Debt
- Businesses
- Climate
- Commercial
- Contact
- Educational
- Population
- Labor Force
- Government
- Public Safety
- Utilities
- Water System
- Waste Water
- Motor Freight
- Transportation
- Housing
- Places of Worship
- Media
- Tax Structure
- Sales Taxes
- Telecommunications
- Medical
- Financial
- Industrial Financing
- Recreational
- Other
- Major Employers
- City of Elk City
Economic Development
Tax Structure
Elk City has relativly low tax base compared to other cities across the nation. To figure the property tax on real property the formula is: Market value of the property times 12% equals assessed value; then subtract $1,000 for Homestead Exemption; now multiply by .08274. This is your tax amount.
EXAMPLE: (Market Value) $50,000 x 12% = $6,000 (Assessed Value); subtract $1,000 (Homestead) = $5,000. Multiply $5,000 x .08274 = $413.70 (Tax Amount)