Warr Acres, Oklahoma Property Taxes
The median property tax rate in Warr Acres, OK is 1.01%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Warr Acres at $180,500, the typical annual property tax bill reaches $1,724, which is below the national median of $2,690. Property taxes in Warr Acres are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Warr Acres' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Warr Acres or another part of Oklahoma County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Warr Acres, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,823
Ownwell’s Warr Acres Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warr Acres with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warr Acres 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 Warr Acres, Oklahoma
Property taxes in Warr Acres, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warr Acres is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Warr Acres set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warr Acres 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 Warr Acres' effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 73132 zip code has the highest median property tax rate of 1.03%, while the 73112 zip code has the lowest median tax rate of 0.73%. Understanding how these cities compare with Warr Acres provides valuable insights into the varying tax landscape across Oklahoma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Warr Acres Tax Rate
1.01%
Average Oklahoma County Tax Rate
1.00%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warr Acres, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73112 | 0.52% | 0.60% | 0.73% | 0.86% | 0.94% |
| 73122 | 0.70% | 0.84% | 0.98% | 1.08% | 1.23% |
| 73132 | 0.79% | 0.89% | 1.03% | 1.12% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Warr Acres, Oklahoma
In Warr Acres, 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 Oklahoma 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. In Warr Acres, 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 highest median tax bill is $2,287 in the 73132 zip code, while the lowest is $1,173 in the 73112 zip code. Being aware of these valuation processes in Warr Acres helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Warr Acres Assessed Value
$180,500
Average Oklahoma County Assessed Value
$192,500
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Warr Acres, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73112 | $96,050 | $112,625 | $140,250 | $167,875 | $184,450 |
| 73122 | $108,950 | $126,000 | $153,500 | $182,000 | $210,550 |
| 73132 | $163,500 | $184,625 | $223,750 | $287,875 | $341,500 |
Source: Ownwell
Property Tax Bills Across Warr Acres, Oklahoma
Property tax bills in Warr Acres, Oklahoma, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value, and in Oklahoma, the assessment ratio is typically set at 11% of the market value. For example, with a median home price of $180,500 in Warr Acres, the assessed value would be approximately $19,855. The property tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including local tax rates set by the county and any applicable exemptions or deductions. Homeowners in Warr Acres can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill is around $1,320, while the 75th percentile reaches $2,395, and the 90th percentile can be as high as $3,237. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Warr Acres Tax Bill
$1,724
Average Oklahoma County Tax Bill
$1,891
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Warr Acres, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73112 | $549 | $783 | $1,173 | $1,563 | $1,796 |
| 73122 | $877 | $1,133 | $1,481 | $1,831 | $2,232 |
| 73132 | $1,404 | $1,691 | $2,287 | $3,084 | $3,737 |
Source: Ownwell