Haworth, Oklahoma Property Taxes
The median property tax rate in Haworth, OK is 0.68%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Haworth at $46,462, the typical annual property tax bill amounts to $310, significantly below the national median of $2,690. Property taxes in Haworth 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 Haworth'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 Haworth 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
Haworth, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$316
Ownwell’s Haworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Haworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haworth 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 Haworth, Oklahoma
Property taxes in Haworth, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Haworth is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Haworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Haworth 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 Haworth's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74740 has the highest median property tax rate of 0.68%, while the lowest median tax rate is also 0.68%. Understanding how these regions compare with Haworth provides valuable insights into the varying tax landscape across McCurtain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Haworth Tax Rate
0.68%
Average Mccurtain County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Haworth, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74740 | 0.28% | 0.49% | 0.68% | 0.90% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Haworth, Oklahoma
In Haworth, 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 McCurtain 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 Haworth, 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. The median home price in Haworth is $46,462, with tax bills ranging from $154 at the 25th percentile to $638 at the 75th percentile, and $1,174 at the 90th percentile. The highest and lowest median tax bills are both in the 74740 zip code, valued at $310. Being aware of these valuation processes in Haworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Haworth Assessed Value
$46,462
Average Mccurtain County Assessed Value
$64,043
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Haworth, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74740 | $17,014 | $25,646 | $46,462 | $84,632 | $148,084 |
Source: Ownwell
Property Tax Bills Across Haworth, Oklahoma
Property tax bills in Haworth, McCurtain County, OK, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $46,462, homeowners can expect varying tax bills depending on the assessed value and specific tax rates. Factors such as property size, location, and improvements can influence the assessed value. In Haworth, the 25th percentile tax bill is around $154, while the 75th percentile tax bill can reach up to $638, and the 90th percentile tax bill goes as high as $1,174. Comparatively, the national median property tax rate is 0.99%, which means local rates can significantly impact the financial burden on homeowners. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly, ensuring they are prepared for their property tax obligations.
Average Haworth Tax Bill
$310
Average Mccurtain County Tax Bill
$440
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Haworth, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74740 | $80 | $154 | $310 | $638 | $1,174 |
Source: Ownwell