Ramona, Washington County, Oklahoma Property Taxes
The median property tax rate in Ramona, Oklahoma is 0.97%, aligning with the state median but slightly below the national median of 0.99%. With a median home value of $118,150, the typical annual property tax bill in Ramona amounts to $937, which is significantly lower than the national median of $2,690. Property taxes in Ramona are based on the tax assessed value, generally lower than the market value due to exemptions such as primary residence and agricultural exemptions. Navigating Ramona's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Ramona or investing in real estate here, a thorough understanding of the local property tax system can provide financial benefits.
Last Updated June 14, 2024
Ramona, Washington County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,146
$1,064
Ownwell’s Ramona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ramona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ramona 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 Ramona, Washington County, Oklahoma
Property taxes in Ramona, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ramona is 0.97%, which is slightly below the U.S. national median of 0.99%. Local government entities within Ramona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ramona 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 Ramona's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74061 has both the highest and lowest median property tax rate of 0.97%. Understanding how these areas compare with Ramona 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 Ramona Tax Rate
0.97%
Average Washington County Tax Rate
1.17%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ramona, Washington County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74061 | 0.50% | 0.73% | 0.97% | 1.11% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Ramona, Washington County, Oklahoma
In Ramona, 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 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. 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 Ramona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Ramona, the median home price is $118,150. The lowest and highest median tax bills are both $937 in the 74061 zip code. The 25th percentile tax bill is $468, the 75th percentile tax bill is $1,999, and the 90th percentile tax bill is $3,424.
Property Tax Assessment Values Across Ramona, Washington County, Oklahoma
Source: Ownwell
$42,980
$108,015
$173,050
Average Ramona Assessed Value
$118,150
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 Ramona, Washington County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74061 | $30,648 | $59,668 | $118,150 | $201,794 | $326,213 |
Source: Ownwell
Property Tax Bills Across Ramona, Washington County, Oklahoma
In Ramona, Washington County, OK, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. This assessed value is a percentage of the home's market value, and it's used to calculate the property tax owed. For instance, with a median home price of $118,150, the property tax rate in Ramona results in a median tax bill of around $937. This figure is relatively lower compared to the national median property tax rate of 0.99%. Factors such as the home's location, size, and condition can influence the assessed value, thereby affecting the tax bill. Homeowners in Ramona might see tax bills ranging from $468 at the 25th percentile to $1,999 at the 75th percentile, with the highest tax bills reaching up to $3,424 at the 90th percentile. These taxes fund local services like schools, infrastructure, and public safety, directly impacting the quality of life in the community.
Average Ramona Tax Bill
$937
Average Washington County Tax Bill
$1,167
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ramona, Washington County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74061 | $193 | $468 | $937 | $1,999 | $3,424 |
Source: Ownwell