Weatherford, Oklahoma Property Taxes
The median property tax rate in Weatherford, Oklahoma is 1.03%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Weatherford at $157,370, the typical annual property tax bill reaches $1,519, which is below the national median of $2,690. Property taxes in Weatherford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Weatherford'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 Weatherford 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
Weatherford, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,621
Ownwell’s Weatherford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weatherford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weatherford 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 Weatherford, Oklahoma
Property taxes in Weatherford, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weatherford is 1.03%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Weatherford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weatherford 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 Weatherford's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73096 zip code has the highest median property tax rate of 1.03%, while the 73096 zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Weatherford provides valuable insights into the varying tax landscape across Custer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Weatherford Tax Rate
1.03%
Average Custer County Tax Rate
1.01%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weatherford, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73096 | 0.66% | 0.88% | 1.03% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Weatherford, Oklahoma
In Weatherford, 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 Custer 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. 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, in Weatherford, the median home price is $157,370, with tax bills ranging from $933 at the 25th percentile to $3,398 at the 90th percentile. The zip code 73096 has the highest and lowest median tax bill at $1,519. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Weatherford Assessed Value
$157,370
Average Custer County Assessed Value
$105,000
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Weatherford, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73096 | $66,252 | $100,994 | $157,370 | $225,000 | $324,378 |
Source: Ownwell
Property Tax Bills Across Weatherford, Oklahoma
In Weatherford, located in Custer County, OK, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby impacting the tax bill. For homeowners in Weatherford, the median home price is $157,370. Property tax bills can vary significantly, with the 25th percentile paying around $933 annually, while those in the 75th percentile face bills of up to $2,273. At the 90th percentile, taxes can go as high as $3,398. The highest and lowest median tax bills in the area are both recorded at $1,519 in the 73096 zip code. Compared to the national median property tax rate of 0.99%, Weatherford's tax rates can be a crucial factor for homeowners to consider, as they directly impact annual housing costs and overall affordability.
Average Weatherford Tax Bill
$1,519
Average Custer County Tax Bill
$977
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Weatherford, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73096 | $536 | $933 | $1,519 | $2,273 | $3,398 |
Source: Ownwell