Wilson, Oklahoma Property Taxes
The median property tax rate in Wilson, OK is 1.00%, slightly higher than both the national median of 0.99% and Oklahoma's state median of 0.97%. With the median home value in Wilson at $64,041, the typical annual property tax bill amounts to $604, which is significantly lower than the national median of $2,690. Property taxes in Wilson are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Wilson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wilson or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wilson, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$640
Ownwell’s Wilson Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wilson effortlessly. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Wilson to provide an accurate estimate of your property tax bill. This user-friendly tool offers insight into your potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Carter County, forms the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Wilson, Oklahoma
Property taxes in Wilson, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilson is 1.00%, higher than the U.S. national median of 0.99%. Local government entities within Wilson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilson 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 Wilson's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73463 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Wilson provides valuable insights into the varying tax landscape across Carter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wilson Tax Rate
1.00%
Average Carter County Tax Rate
0.85%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilson, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73463 | 0.48% | 0.76% | 1.00% | 1.23% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Wilson, Oklahoma
In Wilson, 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 Carter County Assessor 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 Wilson, 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. Notably, Wilson has a median home price of $64,041, with tax bills ranging from $294 at the 25th percentile to $2,264 at the 90th percentile. The zip code 73463 has the highest and lowest median tax bill at $604. Being aware of these valuation processes in Wilson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wilson Assessed Value
$64,041
Average Carter County Assessed Value
$117,168
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wilson, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73463 | $20,339 | $34,612 | $64,041 | $129,122 | $220,023 |
Source: Ownwell
Property Tax Bills Across Wilson, Oklahoma
In Wilson, located in Carter County, OK, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate, applied to this assessed value, determines the annual tax bill. Factors such as property size, location, and any improvements can influence the assessed value. For homeowners in Wilson, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $294, while the 75th percentile tax bill reaches up to $1,274. At the higher end, the 90th percentile tax bill can be as much as $2,264. Compared to the national median property tax rate of 0.99%, Wilson’s tax rates are relatively modest, providing some financial relief to homeowners. Understanding how these elements interact helps homeowners anticipate their annual property tax obligations and manage their budgets more effectively. By staying informed about their property’s assessed value and the local tax rate, homeowners can better navigate their financial responsibilities.
Average Wilson Tax Bill
$604
Average Carter County Tax Bill
$941
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilson, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73463 | $133 | $294 | $604 | $1,274 | $2,264 |
Source: Ownwell