Wister, Oklahoma Property Taxes
The median property tax rate in Wister, OK is 0.70%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Wister at $64,960, the typical annual property tax bill amounts to $490, significantly below the national median of $2,690. Property taxes in Wister are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wister'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 Wister or another part of Latimer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wister, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$455
Ownwell’s Wister Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wister with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wister 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 Wister, Oklahoma
Property taxes in Wister, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wister is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Wister set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wister 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 Wister's effective property tax rate to other regions and the national median. For comparison, the zip code 74966 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these values compare with Wister provides valuable insights into the varying tax landscape across Latimer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wister Tax Rate
0.70%
Average Latimer County Tax Rate
0.84%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wister, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74966 | 0.24% | 0.43% | 0.70% | 0.90% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Wister, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wister, Oklahoma. 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 Latimer 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 Wister, 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 Wister helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $490.00 in zip code 74966, while the lowest is also $490.00 in the same zip code.
Average Wister Assessed Value
$64,960
Average Latimer County Assessed Value
$59,905
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wister, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74966 | $25,860 | $40,671 | $64,960 | $106,894 | $200,546 |
Source: Ownwell
Property Tax Bills Across Wister, Oklahoma
In Wister, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. For homeowners in Wister, the median home price is $64,960. The tax rate applied to this assessed value is then used to determine the annual property tax bill. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the local tax rate. In Wister, the tax bill for the 25th percentile is $194, while for the 75th percentile, it reaches $806. At the 90th percentile, homeowners can expect a tax bill of $1,412. The highest and lowest median tax bills in Wister both stand at $490, indicating a relatively uniform tax rate within the area. Property taxes significantly impact homeowners by influencing monthly mortgage payments and overall housing affordability. Compared to the national median property tax rate of 0.99%, Wister's rates provide a clearer picture for potential homeowners evaluating the cost of living in this region.
Average Wister Tax Bill
$490
Average Latimer County Tax Bill
$444
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wister, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74966 | $87 | $194 | $490 | $806 | $1,412 |
Source: Ownwell