Waurika, Stephens County, Oklahoma Property Taxes
The median property tax rate in Waurika, OK is 0.71%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $84,232 in Waurika, the typical annual property tax bill is $569, significantly below the national median of $2,690. Property taxes in Waurika are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Waurika'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 Waurika 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
Waurika, Stephens County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$598
$555
Ownwell’s Waurika Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waurika with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waurika 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 Waurika, Stephens County, Oklahoma
Property taxes in Waurika, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waurika is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Waurika set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waurika 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 Waurika's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73573 zip code has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these cities compare with Waurika provides valuable insights into the varying tax landscape across Stephens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waurika Tax Rate
0.71%
Average Stephens County Tax Rate
0.81%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waurika, Stephens County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73573 | 0.46% | 0.65% | 0.71% | 0.77% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Waurika, Stephens County, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Waurika, Oklahoma. 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 Stephens 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 Waurika, 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 Waurika helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Waurika is $84,232, with tax bills ranging from $360 at the 25th percentile to $1,422 at the 90th percentile. The highest and lowest median tax bills are both $569 in the 73573 zip code.
Property Tax Assessment Values Across Waurika, Stephens County, Oklahoma
Source: Ownwell
$61,393
$83,240
$105,087
Average Waurika Assessed Value
$84,232
Average Stephens County Assessed Value
$86,689
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waurika, Stephens County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73573 | $38,972 | $60,846 | $84,232 | $100,506 | $184,451 |
Source: Ownwell
Property Tax Bills Across Waurika, Stephens County, Oklahoma
In Waurika, located in Stephens County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the property's market value, which is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $84,232, homeowners can expect varying tax bills depending on their property’s assessed value and the specific tax rate applied. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. In Waurika, the tax bill for the 25th percentile is around $360, while the 75th percentile sees a tax bill of approximately $790. At the 90th percentile, homeowners might face a tax bill as high as $1,422. These property taxes impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Waurika's property tax rates offer a relatively affordable option for homeowners.
Average Waurika Tax Bill
$569
Average Stephens County Tax Bill
$664
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Waurika, Stephens County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73573 | $274 | $360 | $569 | $790 | $1,422 |
Source: Ownwell