Amorita, Oklahoma Property Taxes
The median property tax rate in Amorita, OK is 0.73%, 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 Amorita being $68,946, the typical annual property tax bill reaches $531, significantly below the national median of $2,690. Property taxes in Amorita are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Amorita'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 Amorita 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
Amorita, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$503
Ownwell’s Amorita Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amorita with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amorita 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 Amorita, Oklahoma
Property taxes in Amorita, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amorita is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Amorita set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amorita 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 Amorita's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73719 zip code has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Amorita provides valuable insights into the varying tax landscape across Alfalfa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amorita Tax Rate
0.73%
Average Alfalfa County Tax Rate
0.87%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amorita, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73719 | 0.48% | 0.60% | 0.73% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Amorita, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Amorita, 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 Alfalfa 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 Amorita, 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. For instance, the median home price in Amorita is $68,946, with tax bills ranging from $198 at the 25th percentile to $1,836 at the 90th percentile. The highest and lowest median tax bills are both $531 in zip code 73719. 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 Amorita Assessed Value
$68,946
Average Alfalfa County Assessed Value
$48,960
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amorita, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73719 | $21,014 | $27,948 | $68,946 | $158,974 | $243,645 |
Source: Ownwell
Property Tax Bills Across Amorita, Oklahoma
In Amorita, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is then multiplied by the local tax rate to calculate the annual tax bill. Homeowners in Amorita, located in Alfalfa County, experience a range of property tax bills. For instance, the 25th percentile tax bill is $198, while the 75th percentile tax bill reaches $1,178. At the higher end, the 90th percentile tax bill is $1,836. These tax bills can significantly impact homeowners, as they need to budget for these annual expenses. Compared to the national median property tax rate of 0.99%, the tax rates in Amorita can vary, potentially making it more or less affordable for residents. Understanding these factors helps homeowners anticipate their yearly financial obligations and plan accordingly. The highest and lowest median tax bills in the area both stand at $531, offering a clear picture of tax expectations within the 73719 zip code.
Average Amorita Tax Bill
$531
Average Alfalfa County Tax Bill
$402
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Amorita, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73719 | $145 | $198 | $531 | $1,178 | $1,836 |
Source: Ownwell