Wagoner, Oklahoma Property Taxes
The median property tax rate in Wagoner, OK is 0.70%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Wagoner at $126,287, the typical annual property tax bill is $774, significantly below the national median of $2,690. Property taxes in Wagoner 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 Wagoner'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 Wagoner 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
Wagoner, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$884
Ownwell’s Wagoner Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Wagoner with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wagoner to provide an estimated property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available by scrolling down. Your property’s assessed value is the value assigned by the county for property tax calculations, which takes into account any applicable exemptions.
Property Tax Rates Across Wagoner, Oklahoma
Property taxes in Wagoner, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wagoner is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Wagoner set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wagoner 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 Wagoner's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74467 has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Wagoner 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 Wagoner Tax Rate
0.70%
Average Wagoner County Tax Rate
0.86%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wagoner, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74467 | 0.35% | 0.52% | 0.70% | 0.86% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Wagoner, Oklahoma
In Wagoner, 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 local appraisal district 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 Wagoner, 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 Wagoner helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Wagoner are both $774, with the zip code 74467.
Average Wagoner Assessed Value
$126,287
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 Wagoner, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74467 | $20,727 | $65,090 | $126,287 | $196,877 | $277,140 |
Source: Ownwell
Property Tax Bills Across Wagoner, Oklahoma
Property tax bills in Wagoner, OK, are determined by assessing the market value of a property and applying the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the tax bill. Factors such as property size, location, and improvements are considered in the assessment process. For homeowners, this means the tax bill can vary significantly based on these factors. In Wagoner, the median home price is $126,287, and property tax bills can range widely. For example, the 25th percentile tax bill is $348, while the 75th percentile reaches $1,369, and the 90th percentile can be as high as $2,074. The highest median tax bill in the area is $774, which is notably lower than the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Wagoner Tax Bill
$774
Average Wagoner County Tax Bill
$1,718
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Wagoner, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74467 | $134 | $348 | $774 | $1,369 | $2,074 |
Source: Ownwell