Waurika, Jefferson County, Oklahoma Property Taxes
The median property tax rate in Waurika, OK is 1.02%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Waurika, the typical annual property tax bill is $384, significantly lower than the national median of $2,690. Property taxes in Waurika are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Waurika'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 Waurika or another part of Jefferson County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waurika, Jefferson County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$422
$392
Ownwell’s Waurika Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waurika with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waurika 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 Waurika, Jefferson County, Oklahoma
Property taxes in Waurika, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waurika is 1.02%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Waurika set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waurika 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 Waurika's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73573 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Waurika provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waurika Tax Rate
1.02%
Average Jefferson County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waurika, Jefferson County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73573 | 0.69% | 0.89% | 1.02% | 1.08% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Waurika, Jefferson County, Oklahoma
In Waurika, 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 Jefferson 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. 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 Waurika helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Waurika, the zip code 73573 has the highest and lowest median tax bills, both at $384.00, reflecting the localized nature of property tax variations.
Property Tax Assessment Values Across Waurika, Jefferson County, Oklahoma
Source: Ownwell
$33,098
$53,306
$73,514
Average Waurika Assessed Value
$41,364
Average Jefferson County Assessed Value
$43,058
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waurika, Jefferson County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73573 | $11,940 | $20,584 | $41,364 | $68,411 | $131,676 |
Source: Ownwell
Property Tax Bills Across Waurika, Jefferson County, Oklahoma
In Waurika, Jefferson 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 Waurika is $41,364. To determine the tax bill, local tax rates are applied to the assessed value. Various factors such as property size, location, and any applicable exemptions influence the final tax amount. Homeowners in Waurika experience a range in their property tax bills. For instance, the 25th percentile tax bill is $196, while the 75th percentile tax bill is $657. At the 90th percentile, the tax bill can reach up to $1,261. Comparatively, the highest and lowest median tax bills in the 73573 zip code are both $384, indicating a relatively consistent tax rate within this area. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, making it essential for homeowners to understand how their tax bills are calculated and what factors can influence them.
Average Waurika Tax Bill
$384
Average Jefferson County Tax Bill
$362
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Waurika, Jefferson County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73573 | $104 | $196 | $384 | $657 | $1,261 |
Source: Ownwell