Vinita, Oklahoma Property Taxes
The median property tax rate in Vinita, Oklahoma is 0.64%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Vinita at $141,868, the typical annual property tax bill amounts to $936, significantly less than the national median of $2,690. Property taxes in Vinita are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as those for primary residences and agricultural land. Understanding Vinita'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 Vinita or another part of Delaware County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Vinita, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$908
Ownwell’s Vinita Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Vinita with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vinita 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 Vinita, Oklahoma
Property taxes in Vinita, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vinita is 0.64%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Vinita set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vinita 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 Vinita's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74301 has the highest median property tax rate of 0.64%, while the lowest median tax rate is also 0.64% in the same zip code. Understanding how these cities compare with Vinita provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vinita Tax Rate
0.64%
Average Delaware County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vinita, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74301 | 0.61% | 0.62% | 0.64% | 0.66% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Vinita, Oklahoma
In Vinita, 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 Delaware 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 Vinita, 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 Vinita helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 74301, where homeowners face a median tax bill of $936. This understanding can be vital for proactive tax planning and ensuring you are not overpaying.
Average Vinita Assessed Value
$141,868
Average Delaware County Assessed Value
$141,764
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vinita, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74301 | $79,671 | $102,995 | $141,868 | $180,740 | $204,064 |
Source: Ownwell
Property Tax Bills Across Vinita, Oklahoma
Property tax bills in Vinita, Delaware County, OK, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, determined by the county assessor. For instance, with a median home price of $141,868, the assessed value is multiplied by the local tax rate to determine the tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. Homeowners in Vinita can expect property tax bills to vary. For example, the 25th percentile tax bill is around $660, while the 75th percentile reaches approximately $1,213. The 90th percentile tax bill can go up to $1,379. These variations can significantly impact homeowners' budgets, especially when compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate and manage their property tax obligations effectively.
Average Vinita Tax Bill
$936
Average Delaware County Tax Bill
$1,031
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Vinita, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74301 | $494 | $660 | $936 | $1,213 | $1,379 |
Source: Ownwell