Ames, Oklahoma Property Taxes
The median property tax rate in Ames, Oklahoma is 0.65%, which is considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Ames at $99,918, the typical annual property tax bill reaches $604, significantly below the national median of $2,690. Property taxes in Ames 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 Ames'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 Ames 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
Ames, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$649
Ownwell’s Ames Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ames with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ames 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 Ames, Oklahoma
Property taxes in Ames, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ames is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Ames set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ames 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 Ames's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73718 zip code has the highest median property tax rate of 0.65%, while the 73718 zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Ames provides valuable insights into the varying tax landscape across Major County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ames Tax Rate
0.65%
Average Major County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ames, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73718 | 0.33% | 0.46% | 0.65% | 0.76% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Ames, Oklahoma
In Ames, 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 Major 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 Ames, 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. For instance, the median home price in Ames is $99,918, with tax bills ranging from $319 at the 25th percentile to $1,444 at the 90th percentile. The highest and lowest median tax bills are both $604 in the 73718 zip code. By understanding 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 Ames Assessed Value
$99,918
Average Major County Assessed Value
$92,366
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ames, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73718 | $38,049 | $66,102 | $99,918 | $141,483 | $203,778 |
Source: Ownwell
Property Tax Bills Across Ames, Oklahoma
In Ames, located in Major 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 Ames is $99,918. Local tax authorities determine the assessed value, taking into account factors such as property size, location, and market conditions. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Ames, property tax bills can vary significantly. At the 25th percentile, the tax bill is approximately $319, while at the 75th percentile, it rises to around $1,000. The tax bill at the 90th percentile can reach up to $1,444. These figures illustrate the range of property tax burdens homeowners might face, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Ames residents experience a diverse range of tax obligations, reflecting the varied property values within the city.
Average Ames Tax Bill
$604
Average Major County Tax Bill
$720
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ames, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73718 | $189 | $319 | $604 | $1,000 | $1,444 |
Source: Ownwell