Ponca City, Oklahoma Property Taxes
The median property tax rate in Ponca City, OK, is 0.66%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $158,845 in Ponca City, the typical annual property tax bill is around $914, which is well below the national median of $2,690. Property taxes in Ponca City are calculated based on the assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ponca City'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 Ponca City or another part of Noble County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ponca City, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,048
-$10,987
Ownwell’s Ponca City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ponca City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ponca City to provide an estimate of 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 Ponca City, Oklahoma
Property taxes in Ponca City, Oklahoma, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Ponca City is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Ponca City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ponca City 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 Ponca City's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74601 zip code has the highest median property tax rate of 0.66%, while the 74601 zip code also has the lowest median tax rate of 0.66%. Understanding how these areas compare with Ponca City provides valuable insights into the varying tax landscape across Noble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ponca City Tax Rate
0.66%
Average Noble County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ponca City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74601 | 0.53% | 0.56% | 0.66% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Ponca City, Oklahoma
In Ponca City, 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 local county assessment office 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 Ponca City, 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 Ponca City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ponca City both amount to $914, and are found in the zip code 74601.
Average Ponca City Assessed Value
$158,845
Average Noble County Assessed Value
$78,656
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ponca City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74601 | $40,399 | $74,843 | $158,845 | $197,525 | $284,602 |
Source: Ownwell
Property Tax Bills Across Ponca City, Oklahoma
In Ponca City, located in Noble County, OK, property tax bills are determined based on the assessed value of the property, which is a percentage of its market value. The median home price in Ponca City is $158,845. Local tax authorities assess properties to establish this value, which is then multiplied by the local tax rate to calculate the annual tax bill. For example, homeowners in the 25th percentile pay around $407, while those in the 75th percentile pay approximately $1,325. The highest median tax bill recorded in the city is $914, applicable to the zip code 74601. Factors influencing the tax bill include property size, location, and any improvements or renovations made. Homeowners benefit from understanding these factors, as they can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, Ponca City's tax rates provide a relatively affordable option for homeowners, making it an appealing location for property investment.
Average Ponca City Tax Bill
$914
Average Noble County Tax Bill
$666
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ponca City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74601 | $229 | $407 | $914 | $1,325 | $1,643 |
Source: Ownwell