Ada, Oklahoma Property Taxes
The median property tax rate in Ada, OK is 0.80%, 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 $68,665 in Ada, the typical annual property tax bill amounts to $490, significantly below the national median of $2,690. Property taxes in Ada are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Ada'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 Ada or another part of Johnston County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ada, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$549
Ownwell’s ADA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ADA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ADA 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 Ada, Oklahoma
Property taxes in Ada, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ada is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Ada set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ada 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 Ada's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74820 zip code has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Ada provides valuable insights into the varying tax landscape across Johnston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ada Tax Rate
0.80%
Average Johnston County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ada, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74820 | 0.17% | 0.65% | 0.80% | 0.90% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Ada, Oklahoma
In Ada, 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 Johnston 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 Ada, 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 Ada helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ada is $68,665, with the highest median tax bill being $490 in the 74820 zip code.
Average Ada Assessed Value
$68,665
Average Johnston County Assessed Value
$84,611
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ada, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74820 | $24,719 | $41,044 | $68,665 | $144,796 | $329,196 |
Source: Ownwell
Property Tax Bills Across Ada, Oklahoma
In Ada, located in Johnston County, OK, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors are considered in this process, including property size, location, and any applicable exemptions. Homeowners in Ada can expect a wide range of tax bills, with the 25th percentile at $207 and the 75th percentile at $1,137. The median home price in Ada is $68,665, which influences the overall tax obligation. Compared to the national median property tax rate of 0.99%, Ada's rates can be significantly lower, offering some relief to homeowners. However, those at the 90th percentile may see tax bills as high as $2,688, indicating variability based on property characteristics. The highest and lowest median tax bills in the area both stand at $490, reflecting consistency within certain zip codes.
Average Ada Tax Bill
$490
Average Johnston County Tax Bill
$521
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ada, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74820 | $113 | $207 | $490 | $1,137 | $2,688 |
Source: Ownwell