Fort Supply, Oklahoma Property Taxes
The median property tax rate in Fort Supply, OK is 0.67%, 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 Fort Supply at $199,931, the typical annual property tax bill amounts to $1,039, falling below the national median of $2,690. Property taxes in Fort Supply are calculated based on the tax assessed value, which often is less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Fort Supply'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 Fort Supply or another part of Ellis County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fort Supply, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$1,340
Ownwell’s Fort Supply Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Supply with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Supply 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 Fort Supply, Oklahoma
Property taxes in Fort Supply, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Supply is 0.67%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Fort Supply set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Supply 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 Fort Supply's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73841 zip code has the same median property tax rate of 0.67%. Understanding how these cities compare with Fort Supply 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 Fort Supply Tax Rate
0.67%
Average Ellis County Tax Rate
0.89%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Supply, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73841 | 0.49% | 0.60% | 0.67% | 0.82% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Fort Supply, Oklahoma
In Fort Supply, 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 Fort Supply, 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 Fort Supply helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1039, found in the 73841 zip code.
Average Fort Supply Assessed Value
$199,931
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 Fort Supply, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73841 | $82,887 | $90,997 | $199,931 | $206,792 | $276,543 |
Source: Ownwell
Property Tax Bills Across Fort Supply, Oklahoma
Property tax bills in Fort Supply, Ellis County, OK, are calculated based on the assessed value of the property, which is typically a percentage of the market value. The median home price in Fort Supply is $199,931. Homeowners can expect property tax bills to vary significantly, with the 25th percentile at $666 and the 75th percentile at $1559. The 90th percentile tax bill can reach up to $2340. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Fort Supply offers relatively lower rates, making it an attractive location for homeowners. The highest and lowest median tax bills in the area are both $1039, indicating a level of consistency within the region. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Fort Supply Tax Bill
$1,039
Average Ellis County Tax Bill
$539
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Supply, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73841 | $523 | $666 | $1,039 | $1,559 | $2,340 |
Source: Ownwell