Ravia, Oklahoma Property Taxes
The median property tax rate in Ravia, OK is 0.68%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $47,376 in Ravia, the typical annual property tax bill amounts to $256, significantly below the national median of $2,690. Property taxes in Ravia are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ravia'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 Ravia 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
Ravia, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$322
Ownwell’s Ravia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ravia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ravia 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 Ravia, Oklahoma
Property taxes in Ravia, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ravia is 0.68%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Ravia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ravia 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 Ravia's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73455 has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with Ravia 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 Ravia Tax Rate
0.68%
Average Johnston County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ravia, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73455 | 0.31% | 0.47% | 0.68% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Ravia, Oklahoma
In Ravia, 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 Johnston County officials 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. Assessment notices in Ravia 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 Ravia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Ravia, the median home price is $47,376, with the highest median tax bill being $256 in the 73455 zip code. The 25th percentile tax bill is $145, the 75th percentile is $489, and the 90th percentile reaches $666. By comparing these figures to the national median property tax rate of 0.99%, homeowners can gain a clearer perspective on their local tax landscape.
Average Ravia Assessed Value
$47,376
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 Ravia, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73455 | $17,456 | $27,298 | $47,376 | $74,560 | $105,631 |
Source: Ownwell
Property Tax Bills Across Ravia, Oklahoma
In Ravia, located in Johnston 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 Ravia is $47,376. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For example, homes in the 25th percentile of tax bills pay around $145 annually, while those in the 75th percentile pay approximately $489. The 90th percentile sees tax bills as high as $666. Compared to the national median property tax rate of 0.99%, Ravia's property taxes are relatively lower, making it an attractive option for homeowners looking for affordability. These property taxes fund essential public services like schools, emergency services, and infrastructure, directly impacting the quality of life for residents.
Average Ravia Tax Bill
$256
Average Johnston County Tax Bill
$521
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ravia, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73455 | $80 | $145 | $256 | $489 | $666 |
Source: Ownwell