Wann, Oklahoma Property Taxes
The median property tax rate in Wann, OK is 0.66%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Wann, the typical annual property tax bill comes to $648, significantly below the national median of $2,690. Property taxes in Wann 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 Wann'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 Wann or another part of Nowata County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wann, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$678
Ownwell’s WANN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WANN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WANN 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 Wann, Oklahoma
Property taxes in WANN, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in WANN is 0.66%, which is significantly lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within WANN set these rates annually, and they can vary significantly across different neighborhoods. Each year, WANN 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 WANN's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74083 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these areas compare with WANN provides valuable insights into the varying tax landscape across Nowata County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wann Tax Rate
0.66%
Average Nowata County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wann, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74083 | 0.33% | 0.49% | 0.66% | 0.90% | 1.09% |
Source: Ownwell
Property Tax Assessment Values Across Wann, Oklahoma
In WANN, 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 Nowata 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 WANN, 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 WANN helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. WANN has a median home price of $102,739, with tax bills ranging from $348 at the 25th percentile to $2076 at the 90th percentile. The highest and lowest median tax bill is $648 in the zip code 74083.
Average Wann Assessed Value
$102,739
Average Nowata County Assessed Value
$71,248
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wann, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74083 | $34,337 | $58,616 | $102,739 | $167,864 | $261,930 |
Source: Ownwell
Property Tax Bills Across Wann, Oklahoma
Property tax bills in Wann, located in Nowata County, OK, are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in Wann experience varying tax bills depending on their property's assessed value and the local tax rate. The median home price in Wann stands at $102,739, and the property tax rate in Nowata County is reflective of the state's rates. For instance, the 25th percentile tax bill is $348, while the 75th percentile reaches $1,078. Those at the 90th percentile can see bills as high as $2,076. These figures demonstrate the range of property tax obligations in the area. The highest and lowest median tax bills within the region are both $648, indicating a relatively narrow spread in tax burdens across different properties. Compared to the national median property tax rate of 0.99%, Wann's property tax rates offer a glimpse into how local assessments and valuations impact homeowners, potentially making it a more affordable area in terms of property taxes.
Average Wann Tax Bill
$648
Average Nowata County Tax Bill
$541
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wann, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74083 | $182 | $348 | $648 | $1,078 | $2,076 |
Source: Ownwell