Wright City, Oklahoma Property Taxes
The median property tax rate in Wright City, OK is 0.67%, which is significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Wright City at $32,394, the typical annual property tax bill is $214, well below the national median of $2,690. Property taxes in Wright City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wright City'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 Wright City or another part of McCurtain County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wright City, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$217
Ownwell’s Wright City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wright City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wright City 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 Wright City, Oklahoma
Property taxes in Wright City, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wright City is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Wright City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wright City 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 Wright City's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74766 has both the highest and lowest median property tax rate of 0.67%. Understanding how these cities compare with Wright City 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 Wright City Tax Rate
0.67%
Average Mccurtain County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wright City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74766 | 0.22% | 0.45% | 0.67% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Wright City, Oklahoma
In Wright City, 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 Appraisal District 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. 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 Wright City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wright City are both $214, specifically in zip code 74766.
Average Wright City Assessed Value
$32,394
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 Wright City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74766 | $14,897 | $20,965 | $32,394 | $53,344 | $94,086 |
Source: Ownwell
Property Tax Bills Across Wright City, Oklahoma
Property tax bills in Wright City, located in McCurtain County, OK, are calculated based on the assessed value of a property, which is typically a percentage of the market value. The median home price in Wright City is $32,394. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. For homeowners in Wright City, the property tax bill can vary significantly. The 25th percentile tax bill is $114, while the 75th percentile reaches $370. At the 90th percentile, homeowners could see tax bills as high as $697. These figures indicate a range of property tax burdens depending on the property's assessed value and applicable exemptions. Comparatively, the highest and lowest median tax bills in the area are both $214, which is considerably lower than the national median property tax rate of 0.99%. This lower tax burden can make homeownership more affordable in Wright City, benefiting residents by reducing annual expenses.
Average Wright City Tax Bill
$214
Average Mccurtain County Tax Bill
$440
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wright City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74766 | $44 | $114 | $214 | $370 | $697 |
Source: Ownwell