Ames, Oklahoma Property Taxes
The median property tax rate in Ames, Oklahoma is 0.96%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $53,550 in Ames, the typical annual property tax bill is around $494, well below the national median of $2,690. Property taxes in Ames are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Ames'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 Ames or another part of Garfield County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ames, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$514
Ownwell’s Ames Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ames with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ames 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 Ames, Oklahoma
Property taxes in Ames, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ames is 0.96%, slightly below the U.S. national median of 0.99%. Local government entities within Ames set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ames 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 Ames's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the city with the highest median property tax rate in Garfield County is Ames itself, with a rate of 0.96%, while the city with the lowest median tax rate in the county also has a rate of 0.96%. Understanding how these cities compare with Ames provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ames Tax Rate
0.96%
Average Garfield County Tax Rate
1.14%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ames, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73718 | 0.62% | 0.88% | 0.96% | 0.96% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Ames, Oklahoma
In Ames, 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 Garfield 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 Ames, 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 Ames helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ames is $494 in the 73718 zip code, while the lowest is also $494 in the same zip code.
Average Ames Assessed Value
$53,550
Average Garfield County Assessed Value
$94,470
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ames, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73718 | $22,146 | $32,500 | $53,550 | $97,870 | $143,428 |
Source: Ownwell
Property Tax Bills Across Ames, Oklahoma
In Ames, 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 Ames is $53,550. The property tax rate in Garfield County influences how much homeowners pay annually. For instance, the tax bill for the 25th percentile is $313, while for the 75th percentile, it rises to $773. At the 90th percentile, homeowners can expect to pay around $1,409. These tax bills are determined by multiplying the assessed value of the property by the local tax rate. Factors such as property size, location, and any applicable exemptions also play a role in the final tax bill. Compared to the national median property tax rate of 0.99%, Ames homeowners may find their tax bills relatively manageable. However, understanding these factors is crucial for homeowners to anticipate their annual tax obligations and budget accordingly.
Average Ames Tax Bill
$494
Average Garfield County Tax Bill
$950
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ames, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73718 | $200 | $313 | $494 | $773 | $1,409 |
Source: Ownwell