Arnett, Ellis County, Oklahoma Property Taxes
The median property tax rate in Arnett, OK is 0.64%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Arnett at $70,083, the typical annual property tax bill reaches $410, significantly below the national median of $2,690. Property taxes in Arnett 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 Arnett'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 Arnett 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
Arnett, Ellis County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$449
$416
Ownwell’s Arnett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arnett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arnett 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 Arnett, Ellis County, Oklahoma
Property taxes in Arnett, Oklahoma, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Arnett is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Arnett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arnett 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 Arnett's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the highest median property tax rate in the county is also 0.64%, while the lowest median tax rate is similarly 0.64%, both found in the zip code 73832. Understanding how these areas compare with Arnett provides valuable insights into the varying tax landscape across Ellis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arnett Tax Rate
0.64%
Average Ellis County Tax Rate
0.89%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arnett, Ellis County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73832 | 0.41% | 0.52% | 0.64% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Arnett, Ellis County, Oklahoma
In Arnett, 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 Ellis 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 Arnett, 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. For instance, the zip code with both the highest and lowest median tax bill is 73832, with a median tax bill of $410. Being aware of these valuation processes in Arnett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Arnett, Ellis County, Oklahoma
Source: Ownwell
$53,439
$93,547
$133,654
Average Arnett Assessed Value
$70,083
Average Ellis County Assessed Value
$64,405
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arnett, Ellis County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73832 | $18,948 | $35,491 | $70,083 | $129,164 | $208,704 |
Source: Ownwell
Property Tax Bills Across Arnett, Ellis County, Oklahoma
In Arnett, located in Ellis County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Arnett is $70,083. Property taxes are then determined by applying the local tax rate to this assessed value. Factors such as property improvements, market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. For homeowners in Arnett, the tax bill can vary significantly. At the 25th percentile, the tax bill is approximately $204, while at the 75th percentile, it reaches around $741. For those at the 90th percentile, the tax bill can be as high as $1,392. These variations show how property taxes can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, homeowners in Arnett experience a range of tax bills that reflect the specific economic and property market conditions of Ellis County.
Average Arnett Tax Bill
$410
Average Ellis County Tax Bill
$539
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Arnett, Ellis County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73832 | $112 | $204 | $410 | $741 | $1,392 |
Source: Ownwell