Coweta, Wagoner County, Oklahoma Property Taxes
The median property tax rate in Coweta, OK is 0.82%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $209,095 in Coweta, the typical annual property tax bill amounts to $1,606, falling below the national median of $2,690. Property taxes in Coweta are determined based on the assessed value, which often comes in lower than the market value due to exemptions such as those for primary residences and agricultural properties. By gaining a thorough understanding of Coweta's property tax system, exploring the available exemptions, and identifying potential opportunities for reductions, homeowners and real estate investors can achieve considerable annual savings. Whether you reside in the heart of Coweta or another area within Wagoner County, familiarizing yourself with the local property tax framework will prove beneficial.
Last Updated June 14, 2024
Coweta, Wagoner County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,715
$1,591
Ownwell’s Coweta Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Coweta with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Coweta to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Coweta, Wagoner County, Oklahoma
Property taxes in Coweta, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coweta is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Coweta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coweta 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 Coweta's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74429 zip code has the highest median property tax rate of 0.82%, while the 74429 zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Coweta provides valuable insights into the varying tax landscape across Wagoner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coweta Tax Rate
0.82%
Average Wagoner County Tax Rate
0.86%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coweta, Wagoner County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74429 | 0.47% | 0.64% | 0.82% | 0.94% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Coweta, Wagoner County, Oklahoma
In Coweta, 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 Wagoner County Assessor's Office 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 Coweta, 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 Coweta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Coweta are both $1,606, found in zip code 74429.
Property Tax Assessment Values Across Coweta, Wagoner County, Oklahoma
Source: Ownwell
$20,490
$136,441
$252,392
Average Coweta Assessed Value
$209,095
Average Wagoner County Assessed Value
$214,676
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coweta, Wagoner County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74429 | $83,260 | $147,919 | $209,095 | $285,041 | $384,359 |
Source: Ownwell
Property Tax Bills Across Coweta, Wagoner County, Oklahoma
Property tax bills in Coweta, located in Wagoner County, OK, are calculated based on the assessed value of a property. This assessed value is typically a percentage of the property's market value as determined by the county assessor. The local tax rate is then applied to this assessed value to determine the annual tax bill. In Coweta, the median home price is $209,095. Homeowners in the 25th percentile can expect to pay around $955 annually, while those in the 75th percentile face bills of approximately $2,353. For the top 10% of property values, tax bills can reach up to $3,350. These figures show how property taxes can vary significantly based on a home's assessed value. Compared to the national median property tax rate of 0.99%, Coweta's property tax rates are relatively moderate. However, the impact on homeowners can still be substantial, affecting monthly mortgage payments and overall housing affordability. Understanding how these taxes are calculated can help homeowners better plan their finances.
Average Coweta Tax Bill
$1,606
Average Wagoner County Tax Bill
$1,718
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Coweta, Wagoner County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74429 | $450 | $955 | $1,606 | $2,353 | $3,350 |
Source: Ownwell