Seiling, Oklahoma Property Taxes
The median property tax rate in Seiling, OK is 0.73%, 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 Seiling at $87,518, the typical annual property tax bill amounts to $624, significantly below the national median of $2,690. Property taxes in Seiling are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Seiling'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 Seiling or another part of Dewey County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seiling, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$639
Ownwell’s Seiling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seiling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seiling 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 Seiling, Oklahoma
Property taxes in Seiling, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seiling is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Seiling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seiling 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 Seiling's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73663 has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these figures compare with Seiling provides valuable insights into the varying tax landscape across Dewey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seiling Tax Rate
0.73%
Average Dewey County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seiling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73663 | 0.45% | 0.57% | 0.73% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Seiling, Oklahoma
In Seiling, 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 Dewey 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 Seiling, 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 Seiling helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Seiling are both $624, found in the 73663 zip code.
Average Seiling Assessed Value
$87,518
Average Dewey County Assessed Value
$78,646
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seiling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73663 | $23,472 | $42,868 | $87,518 | $141,352 | $203,513 |
Source: Ownwell
Property Tax Bills Across Seiling, Oklahoma
In Seiling, located in Dewey County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region face a median property tax bill of $624, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Seiling is $87,518, and depending on various factors, the tax bill can range from the 25th percentile at $295 to the 90th percentile at $1,540. This variability highlights the impact of assessment practices and local tax policies on homeowners. Lower property taxes can make Seiling an attractive option for homeowners looking to reduce their annual expenses, providing a financial advantage compared to other regions with higher tax rates.
Average Seiling Tax Bill
$624
Average Dewey County Tax Bill
$505
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Seiling, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73663 | $140 | $295 | $624 | $1,015 | $1,540 |
Source: Ownwell