Wardville, Oklahoma Property Taxes
The median property tax rate in Wardville, OK is 0.64%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Wardville at $94,062, the typical annual property tax bill amounts to $674, significantly below the national median of $2,690. Property taxes in Wardville are calculated based on the tax assessed value, often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wardville'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 Wardville or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wardville, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$602
Ownwell’s Wardville Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Wardville. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Wardville to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. The assessed value of your property is determined by the county and includes any applicable exemptions, ensuring you get a precise calculation.
Property Tax Rates Across Wardville, Oklahoma
Property taxes in Wardville, Oklahoma, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Wardville is 0.64%, which is lower than both the Oklahoma state median of 0.86% and the U.S. national median of 0.99%. Local government entities within Wardville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wardville 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 Wardville's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74576 has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these areas compare with Wardville provides valuable insights into the varying tax landscape across Atoka County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wardville Tax Rate
0.64%
Average Atoka County Tax Rate
0.71%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wardville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74576 | 0.48% | 0.57% | 0.64% | 0.77% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Wardville, Oklahoma
In Wardville, 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 Atoka County Appraisal District 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 Wardville, 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 Wardville 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 $674 in the 74576 zip code, which also holds the lowest median tax bill.
Average Wardville Assessed Value
$94,062
Average Atoka County Assessed Value
$86,760
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wardville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74576 | $36,238 | $56,869 | $94,062 | $209,282 | $278,659 |
Source: Ownwell
Property Tax Bills Across Wardville, Oklahoma
Property tax bills in Wardville, located in Atoka County, OK, are determined by assessing the market value of a property and applying the local tax rate. The assessed value typically represents a percentage of the property's market value. Homeowners in Wardville can expect their tax bills to vary based on several factors, including property size, location, and any applicable exemptions. For instance, the median home price in Wardville is $94,062. Tax bills in this area range widely, with the 25th percentile at $439 and the 75th percentile at $1,322, indicating significant variability depending on individual property characteristics. The 90th percentile tax bill reaches up to $1,969, reflecting higher-value properties or fewer exemptions. Compared to the national median property tax rate of 0.99%, Wardville's tax rates are competitive, offering some relief to homeowners. This variability in tax bills means that homeowners must stay informed about their property's assessed value and any potential changes in tax rates to manage their annual expenses effectively.
Average Wardville Tax Bill
$674
Average Atoka County Tax Bill
$584
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wardville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74576 | $216 | $439 | $674 | $1,322 | $1,969 |
Source: Ownwell