Watonga, Oklahoma Property Taxes
The median property tax rate in Watonga, OK is 0.72%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $72,999 in Watonga, the typical annual property tax bill amounts to $485, significantly below the national median of $2,690. Property taxes in Watonga are calculated based on the tax assessed value, typically lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Watonga's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Watonga or another part of Blaine County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Watonga, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$526
Ownwell’s Watonga Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Watonga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Watonga 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 Watonga, Oklahoma
Property taxes in Watonga, Oklahoma, are essential in funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Watonga is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Watonga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Watonga 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 Watonga's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73772 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Watonga provides valuable insights into the varying tax landscape across Blaine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Watonga Tax Rate
0.72%
Average Blaine County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Watonga, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73772 | 0.44% | 0.57% | 0.72% | 0.91% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Watonga, Oklahoma
In Watonga, 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 Blaine 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 Watonga, 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 Watonga helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Watonga is $72,999, with tax bills ranging from $278 at the 25th percentile to $1,321 at the 90th percentile. The highest and lowest median tax bills are both $485 in the 73772 zip code.
Average Watonga Assessed Value
$72,999
Average Blaine County Assessed Value
$69,107
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Watonga, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73772 | $24,914 | $39,606 | $72,999 | $115,327 | $161,952 |
Source: Ownwell
Property Tax Bills Across Watonga, Oklahoma
In Watonga, Blaine County, OK, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Watonga is $72,999. The property tax rate in this region is relatively low compared to the national median property tax rate of 0.99%. Homeowners in Watonga can expect their tax bills to vary significantly depending on their property's assessed value. The 25th percentile tax bill is $278, while the 75th percentile tax bill is $849. At the 90th percentile, the tax bill can reach up to $1,321. Several factors influence these tax bills, including the property's location, size, and any applicable exemptions. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors and how they affect the overall tax bill is essential for financial planning and budgeting.
Average Watonga Tax Bill
$485
Average Blaine County Tax Bill
$441
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Watonga, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73772 | $170 | $278 | $485 | $849 | $1,321 |
Source: Ownwell