Wapanucka, Oklahoma Property Taxes
The median property tax rate in Wapanucka, OK is 0.65%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Wapanucka at $108,082, the typical annual property tax bill totals $643, which is notably less than the national median of $2,690. Property taxes in Wapanucka are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wapanucka's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wapanucka or another part of Atoka County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wapanucka, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$703
Ownwell’s Wapanucka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wapanucka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wapanucka to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wapanucka, Oklahoma
Property taxes in Wapanucka, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wapanucka is 0.65%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Wapanucka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wapanucka estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Wapanucka's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73461 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Wapanucka provides valuable insights into the varying tax landscape across Atoka County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wapanucka Tax Rate
0.65%
Average Atoka County Tax Rate
0.71%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wapanucka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73461 | 0.33% | 0.42% | 0.65% | 0.78% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Wapanucka, Oklahoma
In Wapanucka, Oklahoma, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Atoka County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Wapanucka, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Wapanucka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wapanucka is $643 in zip code 73461, while the lowest median tax bill is also $643 in the same zip code.
Average Wapanucka Assessed Value
$108,082
Average Atoka County Assessed Value
$86,760
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wapanucka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73461 | $32,618 | $68,972 | $108,082 | $129,052 | $194,478 |
Source: Ownwell
Property Tax Bills Across Wapanucka, Oklahoma
In Wapanucka, located in Atoka County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $108,082. Local tax authorities determine the assessed value, and the tax rate is applied to this value to calculate the annual tax bill. Factors such as property size, location, and condition influence the assessed value, which in turn affects the tax bill. For homeowners, understanding these factors is crucial as they directly impact the amount owed. The tax bill in Wapanucka varies significantly, with the 25th percentile at $333 and the 75th percentile reaching $933. For higher-value properties, the 90th percentile tax bill can be as much as $1,611. Compared to the national median property tax rate of 0.99%, Wapanucka's tax bills are relatively modest, making it an attractive place for homeowners looking for lower property taxes.
Average Wapanucka Tax Bill
$643
Average Atoka County Tax Bill
$584
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wapanucka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73461 | $119 | $333 | $643 | $933 | $1,611 |
Source: Ownwell