Stillwater, Oklahoma Property Taxes
The median property tax rate in Stillwater, OK is 1.06%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value in Stillwater of $120,597, the typical annual property tax bill reaches $1,208, which is below the national median of $2,690. Property taxes in Stillwater are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stillwater'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 Stillwater 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
Stillwater, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,278
-$13,397
Ownwell’s Stillwater Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Stillwater using just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Stillwater to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities. For those interested in trends at a neighborhood level, additional localized information is available below. Your property's assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Stillwater, Oklahoma
Property taxes in Stillwater, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stillwater is 1.06%, which is higher than the U.S. national median of 0.99%. Local government entities within Stillwater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stillwater 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 Stillwater's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74075 zip code has the highest median property tax rate of 1.06%, while the same zip code also has the lowest median tax rate of 1.06%. Understanding how these areas compare with Stillwater 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 Stillwater Tax Rate
1.06%
Average Noble County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stillwater, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74075 | 0.69% | 0.86% | 1.06% | 1.13% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Stillwater, Oklahoma
In Stillwater, 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 Noble 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 Stillwater, 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. For instance, the median home price in Stillwater is $120,597, with tax bills ranging from $868 at the 25th percentile to $2,604 at the 90th percentile. The highest and lowest median tax bills are both found in the 74075 zip code, each at $1,208. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stillwater Assessed Value
$120,597
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 Stillwater, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74075 | $69,889 | $92,888 | $120,597 | $178,440 | $258,317 |
Source: Ownwell
Property Tax Bills Across Stillwater, Oklahoma
In Stillwater, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Stillwater is $120,597, and property tax bills can vary significantly. Homeowners in Stillwater can expect their tax bills to range widely. At the 25th percentile, tax bills are around $868, while those at the 75th percentile see bills of approximately $1832. For the top 10% of homeowners, tax bills can reach up to $2604. The highest median tax bill in Stillwater is $1208, found in the 74075 zip code. These tax bills impact homeowners by influencing their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, Stillwater's property tax rates offer a relatively affordable option for homeowners.
Average Stillwater Tax Bill
$1,208
Average Noble County Tax Bill
$666
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Stillwater, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74075 | $601 | $868 | $1,208 | $1,832 | $2,604 |
Source: Ownwell