Waukomis, Oklahoma Property Taxes
The median property tax rate in Waukomis, OK is 1.13%, considerably higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Waukomis, the typical annual property tax bill reaches $846, which is below the national median of $2,690. Property taxes in Waukomis are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Waukomis'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 Waukomis 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
Waukomis, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$943
Ownwell’s Waukomis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waukomis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waukomis 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 Waukomis, Oklahoma
Property taxes in Waukomis, Oklahoma, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waukomis is 1.13%, which is notably higher than the U.S. national median of 0.99%. Local government entities within Waukomis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waukomis 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 Waukomis's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73773 has the highest median property tax rate of 1.13%, while it also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Waukomis provides valuable insights into the varying tax landscape across Garfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waukomis Tax Rate
1.13%
Average Garfield County Tax Rate
1.14%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waukomis, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73773 | 0.59% | 0.79% | 1.13% | 1.30% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Waukomis, Oklahoma
In Waukomis, 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 Garfield 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 Waukomis, 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 Waukomis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area both stand at $846 in zip code 73773.
Average Waukomis Assessed Value
$83,440
Average Garfield County Assessed Value
$94,470
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waukomis, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73773 | $29,436 | $56,265 | $83,440 | $119,848 | $193,219 |
Source: Ownwell
Property Tax Bills Across Waukomis, Oklahoma
In Waukomis, located in Garfield County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value typically represents a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $83,440, homeowners can expect a range in their tax bills depending on various factors like exemptions and specific district levies. For many homeowners in Waukomis, the tax bill falls between $513 at the 25th percentile and $1,245 at the 75th percentile, while the 90th percentile sees bills as high as $2,216. The median tax bill in the area stands at $846, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can be beneficial for homeowners, making Waukomis an attractive place for those looking to manage their property expenses effectively.
Average Waukomis Tax Bill
$846
Average Garfield County Tax Bill
$950
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Waukomis, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73773 | $250 | $513 | $846 | $1,245 | $2,216 |
Source: Ownwell