Welling, Oklahoma Property Taxes
The median property tax rate in Welling, OK is 0.78%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Welling at $67,438, the typical annual property tax bill amounts to $435, considerably below the national median of $2,690. Property taxes in Welling are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Welling'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 Welling or another part of Cherokee County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Welling, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$526
Ownwell’s Welling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Welling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Welling 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 Welling, Oklahoma
Property taxes in Welling, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Welling is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Welling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Welling 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 Welling's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74471 has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Welling provides valuable insights into the varying tax landscape across Cherokee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Welling Tax Rate
0.78%
Average Cherokee County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Welling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74471 | 0.32% | 0.57% | 0.78% | 0.92% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Welling, Oklahoma
In Welling, 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 Cherokee 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 Welling, 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 Welling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74471 has both the highest and lowest median tax bills, standing at $435.
Average Welling Assessed Value
$67,438
Average Cherokee County Assessed Value
$95,710
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Welling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74471 | $14,754 | $35,480 | $67,438 | $116,778 | $174,206 |
Source: Ownwell
Property Tax Bills Across Welling, Oklahoma
In Welling, located in Cherokee 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 Welling is $67,438. Property taxes are determined by multiplying the assessed value by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Welling, the tax bill varies significantly. At the 25th percentile, the tax bill is $197, while at the 75th percentile, it rises to $922. The 90th percentile sees tax bills as high as $1,399. These figures illustrate the range of property tax burdens homeowners can expect. Compared to the national median property tax rate of 0.99%, Welling's rates can be considered relatively moderate. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances more effectively.
Average Welling Tax Bill
$435
Average Cherokee County Tax Bill
$703
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Welling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74471 | $35 | $197 | $435 | $922 | $1,399 |
Source: Ownwell