Ponca City, Oklahoma Property Taxes
The median property tax rate in Ponca City, OK is 0.97%, slightly lower than the national median of 0.99% and aligned with Oklahoma's state median of 0.97%. With the median home value in Ponca City at $101,667, the typical annual property tax bill reaches $917, well below the national median of $2,690. Property taxes in Ponca City 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 Ponca 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 Ponca City 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
Ponca City, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$986
Ownwell’s Ponca City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ponca City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ponca 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 Ponca City, Oklahoma
Property taxes in Ponca 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 Ponca City is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within Ponca City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ponca 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 Ponca City's effective property tax rate to other areas within Osage County and the national median. For comparison, the 74604 zip code has the highest median property tax rate of 0.97%, while the 74601 zip code has the lowest median tax rate of 0.58%. Understanding how these areas compare with Ponca City provides valuable insights into the varying tax landscape across Osage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ponca City Tax Rate
0.97%
Average Osage County Tax Rate
1.07%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ponca City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74601 | 0.46% | 0.50% | 0.58% | 0.65% | 0.70% |
| 74604 | 0.65% | 0.84% | 0.97% | 1.09% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Ponca City, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ponca City, Oklahoma. 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 Osage 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. Assessment notices in Ponca City 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. The median home price in Ponca City is $101,667, with the 25th percentile tax bill at $414 and the 75th percentile tax bill at $1,589. The highest median tax bill is $918 in the 74604 zip code, while the lowest is $317 in the 74601 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ponca City Assessed Value
$101,667
Average Osage County Assessed Value
$85,955
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ponca City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74601 | $42,062 | $49,112 | $60,862 | $72,611 | $79,661 |
| 74604 | $18,191 | $49,824 | $101,880 | $160,016 | $214,528 |
Source: Ownwell
Property Tax Bills Across Ponca City, Oklahoma
In Ponca City, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the property's market value. For instance, with a median home price of $101,667, the assessed value is used to calculate the property tax owed. Factors such as property location, size, and improvements can influence this assessed value. The tax rate in Ponca City is applied to the assessed value to determine the annual tax bill. Tax bills can vary significantly, with the 25th percentile paying around $414 and the 75th percentile paying up to $1,589. The highest median tax bill in Ponca City is $918, found in the 74604 zip code, while the lowest median tax bill is $317 in the 74601 zip code. For homeowners, these property taxes fund essential local services like schools, public safety, and infrastructure. Understanding how these taxes are calculated can help homeowners better manage their finances and anticipate annual expenses.
Average Ponca City Tax Bill
$917
Average Osage County Tax Bill
$840
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ponca City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74601 | $281 | $294 | $317 | $340 | $353 |
| 74604 | $150 | $417 | $918 | $1,589 | $2,201 |
Source: Ownwell