Whitefield, Oklahoma Property Taxes
The median property tax rate in Whitefield, Oklahoma is 0.65%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $60,016 in Whitefield, the typical annual property tax bill is $414, which is well below the national median of $2,690. Property taxes in Whitefield are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Whitefield'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 Whitefield or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Whitefield, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$390
Ownwell’s Whitefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitefield 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 Whitefield, Oklahoma
Property taxes in Whitefield, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitefield is 0.65%, lower than the U.S. national median of 0.99%. Local government entities within Whitefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitefield 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 Whitefield's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74472 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these areas compare with Whitefield provides valuable insights into the varying tax landscape across Haskell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Whitefield Tax Rate
0.65%
Average Haskell County Tax Rate
0.72%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitefield, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74472 | 0.34% | 0.50% | 0.65% | 0.82% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Whitefield, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Whitefield, 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 Haskell County Appraisal District 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 Whitefield, 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. The median home price in Whitefield is $60,016, and the median tax bill ranges significantly. The 25th percentile tax bill is $160, while the 75th percentile tax bill is $618. The highest median tax bill is found in the 74472 zip code, amounting to $414. By understanding the distinction between 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 Whitefield Assessed Value
$60,016
Average Haskell County Assessed Value
$61,017
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Whitefield, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74472 | $13,525 | $28,321 | $60,016 | $96,915 | $119,471 |
Source: Ownwell
Property Tax Bills Across Whitefield, Oklahoma
In Whitefield, Oklahoma, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The county assessor determines this assessed value, and then the local tax rate is applied to calculate the tax bill. Homeowners in Whitefield face a median property tax rate that is below the national median of 0.99%, which can provide some financial relief. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. For instance, properties in the 25th percentile have tax bills around $160, while those in the 75th percentile see bills closer to $618. The highest tax bills can reach up to $895, indicating significant variation depending on property specifics. For homeowners, understanding these factors is crucial as they directly impact annual expenses. Accurate assessment and awareness of potential exemptions can lead to substantial savings, making it essential for property owners to stay informed about their property tax obligations.
Average Whitefield Tax Bill
$414
Average Haskell County Tax Bill
$400
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitefield, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74472 | $49 | $160 | $414 | $618 | $895 |
Source: Ownwell