Stonewall, Oklahoma Property Taxes
The median property tax rate in Stonewall, OK is 0.75%, which is significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Stonewall at $107,984, the typical annual property tax bill amounts to $697, well below the national median of $2,690. Property taxes in Stonewall are calculated based on the assessed value, generally lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Stonewall's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Stonewall or another part of Coal County, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stonewall, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$810
Ownwell’s Stonewall Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Stonewall. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Stonewall to provide an accurate estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Stonewall, Oklahoma
Property taxes in Stonewall, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stonewall is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Stonewall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stonewall 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 Stonewall's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74871 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Stonewall provides valuable insights into the varying tax landscape across Coal County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stonewall Tax Rate
0.75%
Average Coal County Tax Rate
0.60%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stonewall, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74871 | 0.31% | 0.53% | 0.75% | 0.90% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Stonewall, Oklahoma
In Stonewall, 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 local 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 Stonewall, 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. For instance, the median home price in Stonewall is $107,984, with tax bills ranging from $388 at the 25th percentile to $2,456 at the 90th percentile. 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 Stonewall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stonewall Assessed Value
$107,984
Average Coal County Assessed Value
$69,824
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stonewall, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74871 | $38,629 | $59,214 | $107,984 | $182,764 | $260,305 |
Source: Ownwell
Property Tax Bills Across Stonewall, Oklahoma
In Stonewall, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value, and this percentage can vary. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including the home's location, size, and any applicable exemptions. For example, Stonewall residents in Coal County see a median property tax bill of $697, which is significantly lower than the national median property tax rate of 0.99%. Homeowners in the 25th percentile pay around $388, while those in the 75th percentile pay approximately $1313, and the 90th percentile can see bills as high as $2456. These tax bills impact homeowners by affecting their annual housing costs and potentially influencing their decisions on buying, selling, or renovating their properties. Lower property taxes can make homeownership more affordable, while higher taxes may require more careful financial planning.
Average Stonewall Tax Bill
$697
Average Coal County Tax Bill
$407
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Stonewall, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74871 | $142 | $388 | $697 | $1,313 | $2,456 |
Source: Ownwell