Walters, Oklahoma Property Taxes
The median property tax rate in Walters, OK, is 0.82%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $97,900 in Walters, the typical annual property tax bill is around $912, significantly below the national median of $2,690. Property taxes in Walters are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Walters' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Walters or another part of Comanche County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walters, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$803
Ownwell’s Walters Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Walters with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walters 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 Walters, Oklahoma
Property taxes in Walters, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walters is 0.82%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Walters set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walters 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 Walters' effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73572 has both the highest and lowest median property tax rate of 0.82%. Understanding how these areas compare with Walters provides valuable insights into the varying tax landscape across Comanche County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walters Tax Rate
0.82%
Average Comanche County Tax Rate
1.15%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walters, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73572 | 0.70% | 0.78% | 0.82% | 1.04% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Walters, Oklahoma
In Walters, 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 Comanche 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 Walters, 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 Walters helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Walters is $97,900, with annual property tax bills ranging from $540 at the 25th percentile to $1,509 at the 75th percentile. The highest and lowest median tax bill is $912, found in zip code 73572.
Average Walters Assessed Value
$97,900
Average Comanche County Assessed Value
$99,838
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walters, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73572 | $72,999 | $76,590 | $97,900 | $190,627 | $217,939 |
Source: Ownwell
Property Tax Bills Across Walters, Oklahoma
In Walters, located in Comanche County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in Walters is $97,900. Property taxes here are influenced by several factors, including the property's market value, local tax rates, and any applicable exemptions. Homeowners in Walters can expect a range of tax bills, with the 25th percentile paying around $540 annually, while those in the 75th percentile pay about $1,509. The highest tax bills, in the 90th percentile, reach up to $1,863. Compared to the national median property tax rate of 0.99%, Walters offers relatively moderate tax obligations for its residents. For homeowners, understanding these factors can help in budgeting and financial planning, ensuring that they are prepared for their annual tax responsibilities. The uniformity in the tax bills across different zip codes within Walters reflects a stable and predictable property tax environment.
Average Walters Tax Bill
$912
Average Comanche County Tax Bill
$997
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Walters, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73572 | $502 | $540 | $912 | $1,509 | $1,863 |
Source: Ownwell