Ochelata, Oklahoma Property Taxes
The median property tax rate in Ochelata, OK is 0.93%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $81,942, the typical annual property tax bill in Ochelata reaches $638, which is significantly below the national median of $2,690. Property taxes in Ochelata are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Ochelata'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 Ochelata or another part of Washington County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ochelata, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$762
Ownwell’s Ochelata Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ochelata with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ochelata 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 Ochelata, Oklahoma
Property taxes in Ochelata, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ochelata is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Ochelata set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ochelata 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 Ochelata's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74051 zip code has the highest median property tax rate of 0.93%, while the 74051 zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Ochelata provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ochelata Tax Rate
0.93%
Average Washington County Tax Rate
1.17%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ochelata, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74051 | 0.44% | 0.69% | 0.93% | 1.09% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Ochelata, Oklahoma
In Ochelata, 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 Washington County 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 Ochelata, 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. The median home price in Ochelata is $81,942, with tax bills ranging from $337 at the 25th percentile to $2,590 at the 90th percentile. The highest and lowest median tax bills are both $638, found in the 74051 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ochelata Assessed Value
$81,942
Average Washington County Assessed Value
$108,690
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ochelata, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74051 | $25,614 | $46,136 | $81,942 | $152,452 | $259,232 |
Source: Ownwell
Property Tax Bills Across Ochelata, Oklahoma
In Ochelata, Washington County, OK, property tax bills are determined based on the assessed value of a property, which is typically a percentage of its market value. Homeowners in this region experience a median tax bill of $638, regardless of the specific zip code. This amount is notably lower than the national median property tax rate of 0.99%. Factors influencing the property tax bill include the property's market value, local tax rates, and applicable exemptions. For instance, homeowners with properties falling in the 25th percentile can expect a tax bill around $337, while those in the 75th percentile might see bills as high as $1352. The highest tax bills, reaching the 90th percentile, can go up to $2590. These property tax rates significantly impact homeowners by affecting their annual financial planning and long-term investment strategies. Lower property taxes in Ochelata can make homeownership more affordable, potentially attracting new residents and promoting local economic growth.
Average Ochelata Tax Bill
$638
Average Washington County Tax Bill
$1,167
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ochelata, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74051 | $151 | $337 | $638 | $1,352 | $2,590 |
Source: Ownwell