Wanette, Oklahoma Property Taxes
The median property tax rate in Wanette, OK is 0.79%, 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 Wanette at $100,095, the typical annual property tax bill is approximately $566, significantly below the national median of $2,690. Property taxes in Wanette are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Wanette'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 Wanette 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
Wanette, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$791
Ownwell’s Wanette Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wanette with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Wanette to project your property tax bill. This valuable tool provides clarity on potential tax liabilities, allowing for better financial planning. For those interested in more granular insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value, determined by Cleveland County, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Wanette, Oklahoma
Property taxes in Wanette, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wanette is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Wanette set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wanette 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 Wanette's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74878 has the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Wanette provides valuable insights into the varying tax landscape across Cleveland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wanette Tax Rate
0.79%
Average Cleveland County Tax Rate
1.13%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wanette, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74878 | 0.36% | 0.43% | 0.79% | 0.98% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Wanette, Oklahoma
In Wanette, 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 Cleveland 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 Wanette, 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. The median home price in Wanette is $100,095, with tax bills ranging from $320 at the 25th percentile to $1,783 at the 90th percentile. Being aware of these valuation processes in Wanette helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wanette Assessed Value
$100,095
Average Cleveland County Assessed Value
$197,572
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wanette, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74878 | $16,854 | $46,569 | $100,095 | $177,252 | $268,591 |
Source: Ownwell
Property Tax Bills Across Wanette, Oklahoma
Property tax bills in Wanette, located in Cleveland County, OK, are determined by assessing the value of a property and applying the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the tax rate set by local taxing authorities. The median home price in Wanette is $100,095, and the property tax rate in this region is relatively low compared to the national median of 0.99%. Homeowners in Wanette typically see tax bills ranging from $320 at the 25th percentile to $1,110 at the 75th percentile, with the highest median tax bill in the area being $566. These tax bills fund essential local services such as schools, infrastructure, and emergency services. The relatively low property taxes in Wanette can be a financial relief for homeowners, contributing to the overall affordability of living in this region. However, it's important for homeowners to stay informed about any changes in assessed values or tax rates that could affect their annual tax bills.
Average Wanette Tax Bill
$566
Average Cleveland County Tax Bill
$2,141
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wanette, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74878 | $120 | $320 | $566 | $1,110 | $1,783 |
Source: Ownwell