Wewoka, Oklahoma Property Taxes
The median property tax rate in Wewoka, OK is 0.67%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Wewoka, the typical annual property tax bill is $336, well below the national median of $2,690. Property taxes in Wewoka are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wewoka'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 Wewoka or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wewoka, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$324
Ownwell’s Wewoka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wewoka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wewoka 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 Wewoka, Oklahoma
Property taxes in Wewoka, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wewoka is 0.67%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Wewoka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wewoka 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 Wewoka's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74884 zip code has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with Wewoka provides valuable insights into the varying tax landscape across Seminole County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wewoka Tax Rate
0.67%
Average Seminole County Tax Rate
0.75%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wewoka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74884 | 0.32% | 0.52% | 0.67% | 0.92% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Wewoka, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wewoka, 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 Seminole 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 Wewoka, 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 Wewoka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Wewoka is $48,388, with annual tax bills ranging from $170 at the 25th percentile to $1,206 at the 90th percentile. The zip code 74884 has the highest and lowest median tax bill of $336.
Average Wewoka Assessed Value
$48,388
Average Seminole County Assessed Value
$62,317
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wewoka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74884 | $19,346 | $27,716 | $48,388 | $89,530 | $153,573 |
Source: Ownwell
Property Tax Bills Across Wewoka, Oklahoma
Property tax bills in Wewoka, located in Seminole County, OK, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For homeowners in Wewoka, the median home price is $48,388. The property tax rate in this region is notably lower than the national median property tax rate of 0.99%. Tax bills can vary significantly within Wewoka. For example, the 25th percentile tax bill is approximately $170, while the 75th percentile tax bill is around $659. At the 90th percentile, homeowners might see tax bills as high as $1,206. The highest and lowest median tax bills both amount to $336 in the zip code 74884. These variations depend on factors such as property value, any applicable exemptions, and specific local tax rates. Understanding these elements can help homeowners better anticipate their property tax liabilities and plan accordingly.
Average Wewoka Tax Bill
$336
Average Seminole County Tax Bill
$442
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wewoka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74884 | $93 | $170 | $336 | $659 | $1,206 |
Source: Ownwell