Stillwater, Payne County, Oklahoma Property Taxes
The median property tax rate in Stillwater, OK is 0.96%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Stillwater at $218,655, the typical annual property tax bill reaches $2,056, which is lower than 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 the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stillwater, Payne County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$2,099
$1,948
Ownwell’s Stillwater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stillwater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stillwater 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 Stillwater, Payne County, Oklahoma
Property taxes in Stillwater, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stillwater is 0.96%, slightly below 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 74074 zip code has the highest median property tax rate of 0.96%, while the 74075 zip code has the lowest median tax rate of 0.96%. Understanding how these cities compare with Stillwater provides valuable insights into the varying tax landscape across Payne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stillwater Tax Rate
0.96%
Average Payne County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stillwater, Payne County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74074 | 0.72% | 0.86% | 0.96% | 1.06% | 1.13% |
| 74075 | 0.74% | 0.86% | 0.96% | 1.05% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Stillwater, Payne County, 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 Payne 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 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. Being aware of these valuation processes in Stillwater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is in the 74074 zip code at $2,119, while the lowest is in the 74075 zip code at $1,990.
Property Tax Assessment Values Across Stillwater, Payne County, Oklahoma
Source: Ownwell
$79,710
$153,385
$227,060
Average Stillwater Assessed Value
$218,655
Average Payne County Assessed Value
$185,340
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stillwater, Payne County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74074 | $82,392 | $135,902 | $226,270 | $321,252 | $454,301 |
| 74075 | $119,485 | $159,352 | $211,455 | $282,592 | $366,225 |
Source: Ownwell
Property Tax Bills Across Stillwater, Payne County, Oklahoma
In Stillwater, located in Payne County, OK, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the market value of the property. Homeowners in Stillwater typically see a range of tax bills, with the 25th percentile at $1,341 and the 75th percentile at $2,889. For those in the 90th percentile, the tax bill can go up to $4,057. The highest median tax bill in Stillwater is found in the 74074 zip code, amounting to $2,119, while the lowest median tax bill is in the 74075 zip code at $1,990. These figures are influenced by various factors, including property location, market conditions, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Stillwater's tax bills reflect the local economic environment and property values, impacting homeowners by determining their annual financial obligations for property ownership.
Average Stillwater Tax Bill
$2,056
Average Payne County Tax Bill
$1,635
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Stillwater, Payne County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74074 | $711 | $1,236 | $2,119 | $3,058 | $4,375 |
| 74075 | $1,012 | $1,461 | $1,990 | $2,678 | $3,570 |
Source: Ownwell