Mountain View, Oklahoma Property Taxes
The median property tax rate in Mountain View, OK is 0.97%, aligning with the Oklahoma state median but slightly below the national median of 0.99%. With the median home value in Mountain View at $117,847, the typical annual property tax bill amounts to $1,061, which is significantly less than the national median of $2,690. Property taxes in Mountain View are determined based on the tax assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Mountain View's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Mountain View or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mountain View, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,143
Ownwell’s Mountain View Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mountain View with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mountain View 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 Mountain View, Oklahoma
Property taxes in Mountain View, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mountain View is 0.97%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Mountain View set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mountain View 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 Mountain View's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73062 has both the highest and lowest median property tax rate of 0.97%. Understanding how these areas compare with Mountain View 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 Mountain View Tax Rate
0.97%
Average Washita County Tax Rate
0.77%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mountain View, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73062 | 0.76% | 0.91% | 0.97% | 1.05% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Mountain View, Oklahoma
In Mountain View, 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 Mountain View, 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 Mountain View helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1061, found in the 73062 zip code, which is also the lowest median tax bill.
Average Mountain View Assessed Value
$117,847
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 Mountain View, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73062 | $55,635 | $69,428 | $117,847 | $217,698 | $283,900 |
Source: Ownwell
Property Tax Bills Across Mountain View, Oklahoma
In Mountain View, located in Washita County, OK, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. For homeowners in Mountain View, the assessed value of their property is multiplied by the local tax rate to arrive at the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. Homeowners might qualify for exemptions that can reduce their tax liability, such as homestead exemptions or senior citizen discounts. The median home price in Mountain View is $117,847, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $660, while the 75th percentile reaches $1,622, and the 90th percentile can go up to $3,065. These property taxes impact homeowners by contributing to the overall cost of owning a home and can influence decisions about buying or selling property in the area.
Average Mountain View Tax Bill
$1,061
Average Washita County Tax Bill
$399
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Mountain View, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73062 | $492 | $660 | $1,061 | $1,622 | $3,065 |
Source: Ownwell