Bessie, Oklahoma Property Taxes
The median property tax rate in Bessie, OK, is 0.79%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Bessie at $40,330, the typical annual property tax bill is approximately $260, significantly below the national median of $2,690. Property taxes in Bessie 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 Bessie'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 Bessie 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
Bessie, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$319
Ownwell’s Bessie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bessie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bessie 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 Bessie, Oklahoma
Property taxes in Bessie, Oklahoma, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bessie is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Bessie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bessie 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 Bessie's effective property tax rate to other areas in Washita County and the national median. For comparison, the 73622 zip code has the same median property tax rate of 0.79%. Understanding how these areas compare with Bessie provides valuable insights into the varying tax landscape across Washita County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bessie Tax Rate
0.79%
Average Washita County Tax Rate
0.77%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bessie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73622 | 0.43% | 0.64% | 0.79% | 0.92% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Bessie, Oklahoma
In Bessie, 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 Washita 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 Bessie, 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 Bessie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 73622 sees the highest and lowest median tax bills, both valued at $260.
Average Bessie Assessed Value
$40,330
Average Washita County Assessed Value
$56,348
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bessie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73622 | $15,896 | $21,645 | $40,330 | $79,100 | $134,397 |
Source: Ownwell
Property Tax Bills Across Bessie, Oklahoma
Property tax bills in Bessie, located in Washita County, OK, are calculated based on the assessed value of the property. The assessed value is determined by local assessors who evaluate the property's market value and apply an assessment ratio. Homeowners in Bessie experience a range of property tax bills depending on the value of their homes. For instance, the median home price in Bessie is $40,330. The tax bill for homes in the 25th percentile is around $158, while those in the 75th percentile see bills closer to $574. At the higher end, the 90th percentile tax bill can reach up to $1,222. These values are influenced by factors such as property size, location, and improvements made to the property. Compared to the national median property tax rate of 0.99%, Bessie's property taxes are relatively modest. For homeowners, this means a lower financial burden, making Bessie an affordable place to own property.
Average Bessie Tax Bill
$260
Average Washita County Tax Bill
$399
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Bessie, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73622 | $82 | $158 | $260 | $574 | $1,222 |
Source: Ownwell