Ada, Oklahoma Property Taxes
The median property tax rate in Ada, OK is 0.94%, slightly below the state median of 0.97% and the national median of 0.99%. With a median home value of $103,891, the typical annual property tax bill in Ada reaches $885, which is significantly lower than the national median of $2,690. Property taxes in Ada are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ada'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 Ada or another part of Pontotoc County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ada, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$977
Ownwell’s ADA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ADA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ADA 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 Ada, Oklahoma
Property taxes in Ada, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ada is 0.94%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Ada set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ada 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 Ada's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74820 has both the highest and lowest median property tax rate of 0.94%. Understanding how these cities compare with Ada provides valuable insights into the varying tax landscape across Pontotoc County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ada Tax Rate
0.94%
Average Pontotoc County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ada, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74820 | 0.46% | 0.69% | 0.94% | 1.13% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Ada, Oklahoma
In Ada, 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 Pontotoc 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 Ada, 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 Ada helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ada are both $885, found in the 74820 zip code.
Average Ada Assessed Value
$103,891
Average Pontotoc County Assessed Value
$99,145
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ada, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74820 | $32,507 | $57,954 | $103,891 | $173,138 | $256,655 |
Source: Ownwell
Property Tax Bills Across Ada, Oklahoma
In Ada, located in Pontotoc County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Ada is $103,891. Tax rates are applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including the property's location and any applicable exemptions. For instance, in Ada, the tax bill for the 25th percentile is $449, while the 75th percentile sees a tax bill of $1,657. The 90th percentile can expect a tax bill around $2,582. Comparatively, the highest and lowest median tax bills in Ada's zip code 74820 are both $885, reflecting a more uniform tax rate in this region. Homeowners in Ada benefit from relatively lower property tax rates compared to the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Ada Tax Bill
$885
Average Pontotoc County Tax Bill
$821
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ada, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74820 | $234 | $449 | $885 | $1,657 | $2,582 |
Source: Ownwell