Dill City, Oklahoma Property Taxes
The median property tax rate in Dill City, OK is 0.75%, 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 Dill City, the typical annual property tax bill is $265, significantly below the national median of $2,690. Property taxes in Dill City 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 Dill City'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 Dill City or another part of Washita County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dill City, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$271
Ownwell’s Dill City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Dill City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dill City 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 Dill City, Oklahoma
Property taxes in Dill City, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dill City is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Dill City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dill City 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 Dill City's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73641 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these areas compare with Dill City provides valuable insights into the varying tax landscape across Washita County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dill City Tax Rate
0.75%
Average Washita County Tax Rate
0.77%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dill City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73641 | 0.36% | 0.58% | 0.75% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Dill City, Oklahoma
In Dill City, 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 Washita 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 Dill City, 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. Dill City has a median home price of $36,170, with tax bills ranging from $130 at the 25th percentile to $860 at the 90th percentile. The zip code 73641 has both the highest and lowest median tax bill at $265. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dill City Assessed Value
$36,170
Average Washita County Assessed Value
$56,348
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dill City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73641 | $11,588 | $20,319 | $36,170 | $71,505 | $120,048 |
Source: Ownwell
Property Tax Bills Across Dill City, Oklahoma
In Dill City, located in Washita County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor's office, which evaluates the market value of the property and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Dill City, the median home price is $36,170, which influences the tax bill. Property tax bills can vary significantly, with the 25th percentile at $130 and the 75th percentile at $540. At the 90th percentile, the tax bill can go up to $860. These variations depend on factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Dill City's rates are relatively modest, making homeownership more affordable. However, understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax obligations.
Average Dill City Tax Bill
$265
Average Washita County Tax Bill
$399
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Dill City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73641 | $62 | $130 | $265 | $540 | $860 |
Source: Ownwell