Wewoka, Oklahoma Property Taxes
The median property tax rate in Wewoka, OK is 0.90%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $107,093 in Wewoka, the typical annual property tax bill amounts to $795, which is significantly lower than the national median of $2,690. Property taxes in Wewoka are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a clear understanding of Wewoka's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Wewoka or elsewhere in the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wewoka, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$964
Ownwell’s Wewoka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wewoka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wewoka 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 Wewoka, Oklahoma
Property taxes in Wewoka, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wewoka is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Wewoka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wewoka 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 Wewoka's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74884 has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these cities compare with Wewoka provides valuable insights into the varying tax landscape across Hughes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wewoka Tax Rate
0.90%
Average Hughes County Tax Rate
0.85%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wewoka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74884 | 0.60% | 0.73% | 0.90% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Wewoka, Oklahoma
In Wewoka, 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 Hughes 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 Wewoka, 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 Wewoka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Wewoka is $107,093, with tax bills ranging from $369 at the 25th percentile to $2,001 at the 90th percentile. The zip code 74884 experiences the highest median tax bill at $795.
Average Wewoka Assessed Value
$107,093
Average Hughes County Assessed Value
$41,920
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wewoka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74884 | $39,240 | $55,510 | $107,093 | $183,362 | $219,355 |
Source: Ownwell
Property Tax Bills Across Wewoka, Oklahoma
In Wewoka, located in Hughes County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the home's market value. For instance, if a home's market value is $107,093, the assessed value is determined by local assessment rates. This assessed value is then multiplied by the local tax rate to calculate the tax bill. Factors such as property location, improvements, and exemptions can influence the final tax amount. For example, the 25th percentile tax bill is $369, while the 75th percentile tax bill reaches $1,710. The highest median tax bill in the area is $795, which is significantly lower than the national median property tax rate of 0.99%. These property taxes directly impact homeowners by contributing to local services like schools, infrastructure, and emergency services. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Wewoka Tax Bill
$795
Average Hughes County Tax Bill
$328
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wewoka, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74884 | $366 | $369 | $795 | $1,710 | $2,001 |
Source: Ownwell